Diesel reaches highest prices in nearly three months

By Tyson Fisher, Land Line staff writer | 4/10/2017

The average price of a gallon of on-highway diesel went up 2.6 cents to $2.582 per gallon for the week ending Monday, April 10. This marks the second consecutive increase after three straight weeks of decreases, and the highest prices since Jan. 16 when diesel was at $2.585.

Diesel price averages went up in all 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the West Coast less California region, where prices at the pump went up by 3.7 cents per gallon. Prices increased by nine-tenths of a cent in the New England region, the smallest increase in the nation.

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

  • U.S. – $2.582, up 2.6 cents
  • East Coast – $2.62, up 1.5 cents
  • New England – $2.639, up nine-tenths of a cent
  • Central Atlantic – $2.761, up 2.2 cents
  • Lower Atlantic – $2.516, up 1.1 cents
  • Midwest – $2.515, up 3.4 cents
  • Gulf Coast – $2.446, up 3.2 cents
  • Rocky Mountain – $2.64, up 1.7 cents
  • West Coast – $2.862, up 2.3 cents
  • West Coast less California – $2.772, up 3.7 cents
  • California – $2.935, up 1.2 cents

According to ProMiles, the average retail price at truck stops was $2.535 on Monday morning, a 3.3-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 listed the daily average price for Monday at $2.615, with truckers in Pennsylvania paying an average of $3.039 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.348 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. One state, Pennsylvania, is reporting average prices above $3, the first time since March 10. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.517 for Monday, 42.5 cents more expensive than this time last year and seven-tenths of a cent 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 May delivery was trading at $52.87 at noon CDT on Monday, a $2.63 increase from last Monday and a 63-cent increase from its last settlement price. The price of Brent crude oil for June settlement was listed at $55.77, a $2.65 increase from last Monday and a 53-cent increase from its last settlement price.

According to Reuters, oil prices climbed again amid news of another outage in Libya’s largest oil field. Oil production at the field stopped on Sunday with no other information available. Two weeks ago, the oil field stopped production when a group blocked the pipeline. Approximately 200,000 barrels are produced each day at the field in Libya.

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