Average diesel prices slip nearly 4 cents

By Land Line staff | 11/23/2015

The average price of a gallon of on-highway diesel decreased 3.7 cents from last week to $2.445 per gallon for the week ending Monday, Nov. 23. This marks the second consecutive weekly decrease after a short-lived increase two weeks ago.

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 Midwest region, where prices at the pump dropped 5.3 cents per gallon. Prices were down 1.4 cents in the Rocky Mountain region, the smallest decrease in the nation.

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

  • U.S. – $2.445, down 3.7 cents
  • East Coast – $2.469, down 3.0 cents
  • New England – $2.524, down 2.0 cents
  • Central Atlantic – $2.585, down 2.4 cents
  • Lower Atlantic – $2.370, down 3.6 cents
  • Midwest – $2.441, down 5.3 cents
  • Gulf Coast – $2.280, down 2.4 cents
  • Rocky Mountain – $2.474, down 1.4 cents
  • West Coast – $2.653, down 4.2 cents
  • West Coast less California – $2.555, down 4.7 cents
  • California – $2.733, down 3.6 cents

According to ProMiles, the average retail price at truck stops was $2.388 on Monday morning, a 3.7-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 $2.467, with truckers in Rhode Island paying an average of $3.129 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.171 per gallon, according to the site. For the 51st 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, 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 January delivery was trading at $42.26 at noon CDT on Monday, a 52-cent increase from last Monday and a $1.87 increase from its last trading price. The price of Brent crude oil for January settlement was listed at $45.40, an 84-cent increase from last Monday and a 74-cent increase from its last trading price.

According to Bloomberg, last week’s steady decrease was a reaction to the Organization of Petroleum Exporting Countries considering increasing production, doing very little to prevent oil from falling below $40 a barrel in the following month.  AAA has indexed diesel prices at $2.438 for Monday, $1.156 cheaper than this time last year and 6.8 cents less than a month ago.

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