Prices for diesel rise for the fourth consecutive week

By Tyson Fisher, Land Line staff writer | Monday, July 24, 2017

The average price of a gallon of on-highway diesel went up 1.6 cents to $2.507 per gallon for the week ending Monday, July 24. This marks the fourth consecutive increase after a month of decreases.

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 2.2 cents per gallon. Prices increased by one-tenth 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. – $2.507, up 1.6 cents
  • East Coast – $2.546, up 1.4 cents
  • New England – $2.574, up one-tenth of a cent
  • Central Atlantic – $2.685, up seven-tenths of a cent
  • Lower Atlantic – $2.441, up 2.1 cents
  • Midwest – $2.452, up 1.4 cents
  • Gulf Coast – $2.342, up 1.8 cents
  • Rocky Mountain – $2.598, up 1.1 cents
  • West Coast – $2.788, up 1.7 cents
  • West Coast less California – $2.678, up 2.2 cents
  • California – $2.877, up 1.2 cents

According to ProMiles, the average retail price at truck stops was $2.474 on Monday morning, a 3.2 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 $2.567, with truckers in Pennsylvania paying an average of $2.995 per gallon, the highest in the nation. Truckers in Oklahoma are paying a national low of $2.317 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 sixth consecutive week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.454 for Monday, 11.4 cents more expensive than this time last year and four-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 September delivery was trading at $46.28 at noon CDT on Monday, a 26-cent increase from last Monday and a 68-cent increase from its last settlement price. The price of Brent crude oil for September settlement was listed at $48.53, an 11-cent increase from last Monday and a 47-cent increase from its last settlement price.

According to Reuters, oil prices rose slightly on Monday after Saudi Arabia, the world’s largest oil producer, agreed to cut exports in August. Additionally, Halliburton announced that shale drilling in the United States will likely slow down next year.

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