In The News

Diesel prices fall for seventh consecutive week

The average price of a gallon of on-highway diesel decreased 1.0 cents to $3.882 per gallon for the week ending Monday, June 16, according to the U.S. Energy Information Administration.

Diesel price averages fell in eight of 10 regions in the U.S., according to the EIA. The largest average decrease came in the Central Atlantic region, where prices at the pump went down by 2.7 cents per gallon. Prices went up by four-tenths of a cent in the West Coast less California region, the largest increase in the nation.

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

U.S. – $3.882, down 1.0 cent East Coast – $3.961, down 2.2 cents New England – $4.088, down four-tenths of a cent Central Atlantic – $4.052, down 2.7 cents Lower Atlantic – $3.863, down 2.3 cents Midwest – $3.835, down 1.0 cents Gulf Coast – $3.770, up one-tenth of a cent Rocky Mountain – $3.892, down 1.7 cents West Coast – $3.994, down one-tenth of a cent West Coast less California – $3.903, up four-tenths of a cent California – $4.069, down five-tenths of a cents

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.

According to ProMiles, the average retail price at truck stops was $3.818 on Monday morning, a 1.3 cent decrease from last week.

TruckMiles.com listed the daily average price for Monday at $3.869, with truckers in Connecticut paying an average of $4.411 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $3.614 per gallon, according to the site. Truckers in eight of the Lower 48 states are paying in excess of $4 per gallon at the pump, the fewest this year.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for July delivery was trading at $106.98 on Monday afternoon, a $3.05 increase from last Monday and a 7-cent increase from its last trading price. The price of Brent crude oil, now on its August settlement, was listed at $112.93, a $3.14 increase from last Monday and a 47-cent increase from its last trading price.

According to Bloomberg, the increased violence and unrest in Iraq is being credited for the steep increase in prices. This is the first time in nine months that Brent crude has been indexed over $114, according to Bloomberg.

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