Diesel national average up a penny

By Tyson Fisher, Land Line staff writer | 7/17/2017

The average price of a gallon of on-highway diesel went up a penny to $2.491 per gallon for the week ending Monday, July 17. This marks the third consecutive increase after a month of decreases.

Diesel price averages went up in seven 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 five-tenths of a cent in the New England region, the largest decrease in the nation.

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

  • U.S. – $2.491, up 1 cent
  • East Coast – $2.532, up nine-tenths of a cent
  • New England – $2.573, down five-tenths of a cent
  • Central Atlantic – $2.678, up six-tenths of a cent
  • Lower Atlantic – $2.420, up 1.3 cents
  • Midwest – $2.438, up 1.7 cents
  • Gulf Coast – $2.324, up 1.3 cents
  • Rocky Mountain – $2.587, up three-tenths of a cent
  • West Coast – $2.771, unchanged
  • West Coast less California – $2.656, up three-tenths of a cent
  • California – $2.865, down two-tenths of a cent

According to ProMiles, the average retail price at truck stops was $2.442 on Monday morning, a nine-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 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 $2.535, with truckers in Pennsylvania paying an average of $2.982 per gallon, the highest in the nation. Truckers in Oklahoma are paying a national low of $2.273 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 for the fifth consecutive week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.443 for Monday, 8.8 cents more expensive than this time last year and 3.6 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 $46.23 at noon CDT on Monday, a $1.83 increase from last Monday and a 31-cent decrease from its last settlement price. The price of Brent crude oil for September settlement was listed at $48.71, a $1.83 increase from last Monday and a 20-cent decrease from its last settlement price.

According to Reuters, oil prices dropped slightly on Monday as investors are still waiting for any sign that OPEC’s production cut deal has been effective. Meanwhile, oil production increases began to slow down among some of the top producers, keeping the price decrease to a minimum.

Copyright © OOIDA