Another week of little change for average diesel prices

By Tyson Fisher, Land Line staff writer | Monday, February 06, 2017

The average price of a gallon of on-highway diesel went down four-tenths of a cent to $2.558 per gallon for the week ending Monday, Feb. 6. This marks the fourth consecutive decrease after six straight weeks of increases and the lowest prices since Dec. 27.

Diesel price averages went down in seven of 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 went down by eight-tenths of a cent per gallon. Prices increased by 1.7 cents in the California region, the largest increase in the nation.

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

  • U.S. – $2.558, down four-tenths of a cent
  • East Coast – $2.618, down four-tenths of a cent
  • New England – $2.661, down one-tenth of a cent
  • Central Atlantic – $2.763, down seven-tenths of a cent
  • Lower Atlantic – $2.508,down two-tenths of a cent
  • Midwest – $2.492, down eight-tenths of a cent
  • Gulf Coast – $2.403, down five-tenths of a cent
  • Rocky Mountain – $2.515, down one-tenth of a cent
  • West Coast – $2.856, up 1.1 cents
  • West Coast less California – $2.748, up four-tenths of a cent
  • California – $2.944, up 1.7 cents

According to ProMiles, the average retail price at truck stops was $2.505 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 $2.584, with truckers in Connecticut paying an average of $3.083 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.298 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, unchanged from last week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.506 for Monday, 48.2 cents more expensive than this time last year and 2 cents cheaper 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 $53.21 at noon CDT on Monday, a 58-cent increase from last Monday and a 62-cent decrease from its last settlement price. The price of Brent crude oil for April settlement was listed at $55.98, a 75-cent increase from last Monday and an 83-cent decrease from its last settlement price.

According to Reuters, several factors led to Monday’s oil price decrease, including a stronger dollar, increased U.S. supplies and tensions between the U.S. and Iran. All of these factors erased any gains made possible by OPEC’s production output cuts put into effect on Jan. 1.

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