Diesel prices slightly down from last week

By Land Line staff | 9/28/2015

The average price of a gallon of on-highway diesel had a decrease of 1.7 cents from last week to $2.476 per gallon for the week ending Monday, Sept. 28. This marks the third consecutive week of decreases after a short-lived increase during the week ending on Labor Day.

Diesel price averages went down in all 10 regions in the U.S., according to the Energy Information Administration. The largest average decrease was in the Rocky Mountain region, where prices at the pump fell by 3.6 cents per gallon. Prices went down by nine-tenths of a cent in the West Coast less California region, the smallest decrease in the nation.

Following are the average prices by region as reported by the EIA:

  • U.S. – $2.476, down 1.7 cents
  • East Coast – $2.534, down 1.4 cents
  • New England – $2.590, down 2.3 cent
  • Central Atlantic – $2.647, down 1.5 cents
  • Lower Atlantic – $2.437, down 1.1 cents
  • Midwest – $2.434, down 1.3 cents
  • Gulf Coast – $2.323, down 1.7 cents
  • Rocky Mountain – $2.486, down 3.6 cents
  • West Coast – $2.692, down 2.2 cents
  • West Coast less California – $2.541, down nine-tenths of a cent
  • California – $2.815, down 3.3 cents

According to ProMiles, the average retail price at truck stops was $2.411 on Monday morning, a 1-cent decrease from last week.

ProMiles, the software company that maintains the websites ProMiles.com and TruckMiles.com, continues to offer its own weekly fuel price information. The company’s fuel price data are presented in the same format used by the EIA in the agency’s weekly reports. The prices include a national average as well as regional averages, and comparisons to the previous week and the previous year.

A key difference between the EIA and ProMiles reporting is the type and number of fueling stations the company surveys in order to calculate its averages. While EIA surveys 400 truck stops and convenience stores nationwide, ProMiles uses its direct feed from thousands of truck stops to develop its averages.

TruckMiles.com listed the daily average price for Monday at $2.484, with truckers in Connecticut paying an average of $3.069 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.215 per gallon, according to the site. For the 43rd consecutive week, no states in the Lower 48 states are listed in excess of $4 per gallon at the pump. There are 47 states in the contiguous U.S. with prices below $3, unchanged from the previous week.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for November delivery was trading at $44.63 on Monday at noon CDT, a $2.05 decrease from last Monday and a 71-cent decrease from its last trading price. The price of Brent crude oil for November settlement was listed at $47.52, a $1.40 decrease from last Monday and a $1.08 decrease from its last trading price.

According to Bloomberg, oil stocks fell due to signs of weakening demand in China, the biggest crude-consuming country after the U.S.  AAA has indexed diesel prices at $2.494 for Monday, $1.247 cheaper than this time last year and 8.8 cents less than a month ago.

Copyright © OOIDA