Diesel prices match 18-month high from January

By Tyson Fisher, Land Line staff writer | Tuesday, April 18, 2017

The average price of a gallon of on-highway diesel went up 1.5 cents to $2.597 per gallon for the week ending Monday, April 17. This marks the third consecutive increase after three straight weeks of decreases. Diesel was $2.597 on Jan. 9 and had not reached higher prices since Aug. 17, 2015, when diesel was $2.615

Diesel price averages went up in 9 of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the Central Atlantic region, where prices at the pump went up by 2.2 cents per gallon. Prices decreased by one-tenth of a cent in the New England region, the only decrease in the nation.

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

  • U.S. – $2.597, up 1.5 cents
  • East Coast – $2.631, up 1.1 cents
  • New England – $2.638, down one-tenth of a cent
  • Central Atlantic – $2.783, up 2.2 cents
  • Lower Atlantic – $2.522, up six-tenths of a cent
  • Midwest – $2.536, up 2.1 cents
  • Gulf Coast – $2.458, up 1.2 cents
  • Rocky Mountain – $2.652, up 1.2 cents
  • West Coast – $2.877, up 1.5 cents
  • West Coast less California – $2.791, up 1.9 cents
  • California – $2.946, up 1.1 cents

According to ProMiles, the average retail price at truck stops was $2.559 on Monday morning, a 2.4-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 Tuesday at $2.626, with truckers in Pennsylvania paying an average of $3.084 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.398 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, unchanged from last week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.533 for Tuesday, 41.7 cents more expensive than this time last year and 1.9 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 May delivery was trading at $52.41 at noon CDT on Tuesday, a 67-cent decrease from last Monday and a 24-cent decrease from its last settlement price. The price of Brent crude oil for June settlement was listed at $54.95, a $1.03 decrease from last Monday and a 41-cent decrease from its last settlement price.

According to Reuters, oil prices hit an 11-day low after a government report revealed that U.S. shale output for May is expected to experiences the biggest monthly increase in more than two years.

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