Average diesel prices remain virtually unchanged

By Land Line staff | 10/31/2016

The average price of a gallon of on-highway diesel went up one-tenth of a cent to $2.479 per gallon for the week ending Monday, Oct. 31. This marks the first increase after a short-lived, one-week decrease last week.

Diesel price averages went up in seven of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the California region, where prices at the pump went up by 2.7 cents per gallon. Prices were down nine-tenths of a cent in the Rocky Mountain region, the largest decrease in the nation.

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

  • U.S. – $2.479, up one-tenth of a cent
  • East Coast – $2.475, up seven-tenths of a cent
  • New England – $2.502, up 1.7 cents
  • Central Atlantic – $2.583, up two-tenths of a cent
  • Lower Atlantic – $2.388, up 1.0 cent
  • Midwest – $2.443, down eight-tenths of a cent
  • Gulf Coast – $2.353, unchanged
  • Rocky Mountain – $2.541, down nine-tenths of a cent
  • West Coast – $2.766, up 1.9 cents
  • West Coast less California – $2.655, up 1.0 cent
  • California – $2.855, up 2.7 cents

According to ProMiles, the average retail price at truck stops was $2.437 on Monday morning, a seven-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 Monday at $2.510, with truckers in California paying an average of $2.866 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.245 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. No states have reported average diesel prices below $2 since April 27.

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 $47.14 at noon CDT on Monday, a $3.38 decrease from last Monday and a $1.56 decrease from its last settlement price. The price of Brent crude oil for December settlement was listed at $48.14, a $3.32 decrease from last Monday and a $1.57 decrease from its last settlement price.

According to Reuters, oil prices slipped by 3 percent on Monday, reaching a one- month low. Falling prices stem from pessimism regarding OPEC’s deal to cut production at a meeting slated for Nov. 30. AAA has indexed diesel prices at $2.420 for Monday, 6.4 cents cheaper than this time last year and 6.4 cents more than a month ago.

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