The average price of a gallon of on-highway diesel had a decrease of 1.3 cents from last week to $2.485 per gallon for the week ending Monday, Nov. 2. This marks the third consecutive week of decreases after a sharp increase three weeks ago.
Diesel price averages went down in eight of 10 regions in the U.S., according to the Energy Information Administration. The largest average decrease was in the Midwest region, where prices at the pump fell by 2.4 cents per gallon. Prices went up by four-tenths of a cent in the California region, the only increase in the nation.
Following are the average prices by region as reported by the EIA:
- U.S. – $2.485, down 1.3 cents
- East Coast – $2.492, down seven-tenths of a cent
- New England – $2.546, down seven-tenths of a cent
- Central Atlantic – $2.604, down 1.6 cents
- Lower Atlantic – $2.396, unchanged
- Midwest – $2.516, down 2.4 cents
- Gulf Coast – $2.290, down nine-tenths of a cent
- Rocky Mountain – $2.497, down 1.1 cents
- West Coast – $2.697, down six-tenths of a cent
- West Coast less California – $2.549, down 1.8 cents
- California – $2.817, up four-tenths of a cent
According to ProMiles, the average retail price at truck stops was $2.423 on Monday morning, a 1.4-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 $2.497, with truckers in Connecticut paying an average of $3.077 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.174 per gallon, according to the site. For the 48th 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 December delivery was trading at $46.07 at noon CDT on Monday, a $2.09 increase from last Monday and a 52-cent decrease from its last trading price. The price of Brent crude oil for December settlement was listed at $48.85, a $1.31 increase from last Monday and a 71-cent decrease from its last trading price.
According to Bloomberg, oil prices began to increase after an Oct. 28 report revealed that U.S. refiners returned from seasonal maintenance quicker than expected. Demand for crude surged as a result. AAA has indexed diesel prices at $2.484 for Monday, $1.113 cheaper than this time last year and four-tenths of a cent less than a month ago.
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