The average price of a gallon of on-highway diesel had an increase of 1.6 cents from last week to $2.492 per gallon for the week ending Monday, Oct. 5. This marks the first nationwide increase after three weeks of decreases, which followed a short-lived increase on the week of Labor Day.
Diesel price averages went up in 4 of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the Midwest region, where prices at the pump rose by 5.5 cents per gallon. Prices went down by 1.6 cents in the Central Atlantic region, the largest decrease in the nation.
Following are the average prices by region as reported by the EIA:
- U.S. – $2.492, up 1.6 cents
- East Coast – $2.524, down 1 cent
- New England – $2.576, down 1.4 cents
- Central Atlantic – $2.631, down 1.6 cents
- Lower Atlantic – $2.432, down five-tenths of a cent
- Midwest – $2.489, up 5.5 cents
- Gulf Coast – $2.323, unchanged
- Rocky Mountain – $2.501, up 1.5 cents
- West Coast – $2.694, up two-tenths of a cent
- West Coast less California – $2.560, up 1.9 cents
- California – $2.803, down 1.2 cents
According to ProMiles, the average retail price at truck stops was $2.435 on Monday morning, a 2.4-cent increase 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 $2.507, 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 $2.201 per gallon, according to the site. For the 44th consecutive week, no states in the Lower 48 states are listed in excess of $4 per gallon at the pump. There are 46 states in the contiguous U.S. with prices below $3, one fewer 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 $46.47 on Monday at noon CDT, a $2.04 increase from last Monday and a 93-cent increase from its last trading price. The price of Brent crude oil for November settlement was listed at $49.42, a $2.08 increase from last Monday and a $1.29 increase from its last trading price.
According to Bloomberg, oil stocks rose amid news that the number of U.S. drilling rigs has been reduced to a five-year low, slowing down production during a period when a large surplus has been keeping oil at low prices. AAA has indexed diesel prices at $2.493 for Monday, $1.227 cheaper than this time last year and 6.5 cents less than a month ago.
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