Price increases for diesel starting to slow down

By Land Line staff | Tuesday, March 29, 2016

The average price of a gallon of on-highway diesel had an increase of two-tenths of a cent from last week to $2.121 per gallon for the week ending Tuesday, March 29. This marks the sixth consecutive weekly increase after decreases that started back in November.

Diesel price averages went up in eight of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the Rocky Mountain region, where prices at the pump rose by 3.8 cents per gallon. Prices were down 1.3 cents in the Midwest region, the largest decrease in the nation.

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

  • U.S. – $2.121, up two-tenths of a cent
  • East Coast – $2.179, up seven-tenths of a cent
  • New England – $2.241, up 1.3 cents
  • Central Atlantic – $2.292, up 1.2 cents
  • Lower Atlantic – $2.081, up two-tenths of a cent
  • Midwest – $2.077, down 1.3 cents
  • Gulf Coast – $2.001, up 1 cent
  • Rocky Mountain – $2.094, up 3.8 cents
  • West Coast – $2.315, up four-tenths of a cent
  • West Coast less California – $2.177, down two-tenths of a cent
  • California – $2.425, up seven-tenths of a cent

According to ProMiles, the average retail price at truck stops was $2.087 on Monday morning, a two-tenths of a 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 Tuesday at $2.137, with truckers in Rhode Island paying an average of $2.489 per gallon, the highest in the nation. Truckers in Oregon are paying a national low of $1.909 per gallon, according to the site. No states in the Lower 48 states have been listed in excess of $4 per gallon at the pump since Dec. 4, 2014. All 48 states in the contiguous U.S. have average prices below $3. A total of 8 states are reporting prices below $2, unchanged from last week.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for May delivery was trading at $38.39 at noon CDT on Tuesday, a $3.06 decrease from last Tuesday and a $1.00 decrease from its last trading price. The price of Brent crude oil for May settlement was listed at $39.28, a $2.51 decrease from last Tuesday and a 99-cent decrease from its last trading price.

According to Reuters, oil prices decreased on Tuesday as investors grew less confident of a two-month rally with supplies looking to continue to increase and demand unable to keep up. AAA has indexed diesel prices at $2.103 for Tuesday, 73.8 cents cheaper than this time last year and 12.7 cents higher than a month ago.

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