Diesel increases slightly after four weeks of falling prices

By Tyson Fisher, Land Line staff writer | Wednesday, July 05, 2017

The average price for a gallon of on-highway diesel went up seven-tenths of a cent to $2.472 per gallon for the week ending Monday, July 3. This marks the first increase after a month of decreases.

Diesel price averages went down in nine of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the Midwest region, where prices at the pump went up by 1.7 cents per gallon. Prices decreased by seven-tenths of a cent in the Rocky Mountain region, the only decrease in the nation.

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

  • U.S. – $2.472, up seven-tenths of a cent
  • East Coast – $2.522, up six-tenths of a cent
  • New England – $2.578, up one-tenth of a cent
  • Central Atlantic – $2.671, up one-tenth of a cent
  • Lower Atlantic – $2.407, up 1.1 cents
  • Midwest – $2.403, up 1.7 cents
  • Gulf Coast – $2.307, up two-tenths of a cent
  • Rocky Mountain – $2.585, down seven-tenths of a cent
  • West Coast – $2.759, up two-tenths of a cent
  • West Coast less California – $2.628, up two-tenths of a cent
  • California – $2.866, up three-tenths of a cent

According to ProMiles, the average retail price at truck stops was $2.416 on Monday morning, a fourth-tenths of a cent increase from last week.

ProMiles, the software company that maintains the websites ProMiles.com and TruckMiles.com, continues to offer its 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 Wednesday at $2.516, with truckers in Pennsylvania paying an average of $2.936 per gallon, the highest in the nation. Truckers in Oklahoma are paying a national low of $2.217 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. No states are 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 $2.443 for Monday, 7.2 cents more expensive than this time last year and 6.7 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 August delivery was trading at $45.43 at noon CDT on Wednesday, a 69-cent increase from last Wednesday and a $1.64 decrease from its last settlement price. The price of Brent crude oil for September settlement was listed at $48.14, an 83-cent increase from last Wednesday and a $1.54 decrease from its last settlement price.

According to Reuters, oil’s longest bull market run in more than five years came to an end on Wednesday as OPEC exports continue to increase and the dollar began to strengthen. Oil prices had increased for eight straight trading days before Wednesday.

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