Diesel prices moved very little over past week

By Tyson Fisher, Land Line staff writer | Monday, January 30, 2017

The average price of a gallon of on-highway diesel went down seven-tenths of a cent to $2.562 per gallon for the week ending Monday, Jan. 30. This marks the third consecutive decrease after six straight weeks of increases and the lowest prices since Dec. 27, 2016.

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 Rocky Mountain region, where prices at the pump went down by 1.6 cents per gallon. Prices increased by four-tenths of a cent in the California region, the largest increase in the nation.

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

  • U.S. – $2.562, down seven-tenths of a cent
  • East Coast – $2.622, down five-tenths of a cent
  • New England – $2.662, down 1.4 cents
  • Central Atlantic – $2.77, down 1.4 cents
  • Lower Atlantic – $2.51, up three-tenths of a cent
  • Midwest – $2.50, down 1.2 cents
  • Gulf Coast – $2.408, down six-tenths of a cent
  • Rocky Mountain – $2.516, down 1.6 cents
  • West Coast – $2.845, down one-tenth of a cent
  • West Coast less California – $2.744, down six-tenths of a cent
  • California – $2.927, up four-tenths of a cent

According to ProMiles, the average retail price at truck stops was $2.513 on Monday morning, an eight-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 $2.59, with truckers in Rhode Island paying an average of $3.079 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.303 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. Only two states, Rhode Island and Connecticut, have average prices above $3, one more than last week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.51 for Monday, 45.7 cents more expensive than this time last year and 2.5 cents higher than a month ago.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for March delivery was trading at $52.67 at noon CDT on Monday, an 8-cent decrease from last Monday and a 50-cent decrease from its last settlement price. The price of Brent crude oil for March settlement was listed at $55.28, a 5-cent increase from last Monday and a 24-cent decrease from its last settlement price.

According to Reuters, oil prices dipped on Monday as investors speculated another weekly increase in U.S. drilling, potentially negating the effects of production cuts agreed upon by OPEC and non-OPEC countries that began this year. Prices slipped on Friday, Jan. 27 for similar reasons.

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