EIA: Diesel prices continue downward dip

By Land Line staff | 11/30/2015

The average price of a gallon of on-highway diesel fell another 2.4 cents to $2.421 per gallon for the week ending Monday, Nov. 30. This marks the third consecutive weekly decrease at the pump. The average price truckers pay at the pump for one gallon of on-highway diesel fuel is now more than $1.18 lower than the price from one year ago, and the lowest drivers have paid for fuel since June 1, 2009, when the average price was $2.352.

Diesel price averages dipped in all but one region in the U.S., according to the Energy Information Administration. The largest average decrease was in the West Coast less California region, where prices dropped an average of 4.5 cents. Prices increased an average of three-tenths of a cent in the New England region, according to the agency’s weekly report.

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

  • U.S. – $2.421, down 2.4 cents
  • East Coast – $2.455, down 1.4 cents
  • New England – $2.527, up three-tenths of a cent
  • Central Atlantic – $2.567, down 1.8 cents
  • Lower Atlantic – $2.355, down 1.5 cents
  • Midwest – $2.411, down 3 cents
  • Gulf Coast – $2.254, down 2.6 cents
  • Rocky Mountain – $2.451, down 2.3 cents
  • West Coast – $2.624, down 2.9 cents
  • West Coast less California – $2.510, down 4.5 cents
  • California – $2.717, down 1.6 cents

According to ProMiles, the average retail price at truck stops was $2.444 on Monday morning, a 5.6-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 stated that truckers in Connecticut are paying an average of $3.069 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.157 per gallon, according to the site. For the 52nd 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 $41.62 at noon CDT on Monday, a 64-cent decrease from last Monday and a 10-cent decrease from its last trading price. The price of Brent crude oil for January settlement was listed at $44.46, a 64-cent decrease from last Monday.

Copyright © OOIDA