Diesel fuel prices on average rise slightly in U.S.
July 9, 2018
•Land Line Staff
The average cost for a gallon of diesel fuel nationwide rose less than a penny on Monday compared to the previous week, according to the Energy Information Administration.
On Monday, July 9, the EIA reported the U.S. average price per gallon of diesel cost 3.2436. The price is 76.2 cents higher than a year ago.
Following are the average prices by region as reported by the EIA for Monday:
- U.S. – $3.243, up seven-tenths of a cent
- East Coast – $3.238, up 1.2 cents
- New England – $3.279, down three-tenths of a cent
- Central Atlantic – $3.405, up 1.5 cents
- Midwest – $3.176, up a half cent
- Gulf Coast – $3.004, up one-fifth of a cent
- Rocky Mountain – $3.37, up 1.2 cents
- West Coast – $3.749, up 3 cents
- West Coast less California – $3.471, down two-fifths of a cent 2.2 cents
- California – $3.97 , up one cent
ProMiles reports national average retail price for diesel on Monday being 2 cents higher than the week previous. Data from ProMiles also shows higher average prices in all regions, but the average in Rocky Mountain states went up the most, by 4.5 cents. The average for West Coast states wend up 3.8 cents per gallon.
ProMiles, the software company that maintains the websites ProMiles.com and TruckMiles.com, offers 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.
Following are the average prices by region as reported by the ProMiles.com:
- U.S. – $3.184, up 2.1 cents
- East Coast – $3.24, up 1.6 cents
- New England – $3.288, up 1.7 cents
- Central Atlantic – $3.457, up 2 cents
- Lower Atlantic – $3.134, up 2 cents
- Midwest – $3.152, up 1.7 cents
- Gulf Coast – $3.031, up 1.7 cents
- Rocky Mountain – $3.377, up 4.5 cents
- West Coast – $3.658, up 3.8 cents
- West Coast less California – $3.468, up 2.3 cents
- California – $3.949, up four-fifths of a cent
AAA reports a national average price per gallon for diesel fuel at $3.169 for Monday, July 9.
A week previous, the price was $3.165
A month previous, AAA reported $3.20 per gallon and a year ago $2.446 per gallon.
The highest recorded average price for diesel was $4.845 per gallon on July 17, 2008, according to AAA.
Crude oil prices
Brent crude oil spot prices averaged $77 per barrel in May, an increase of $5 per barrel from the April level and the highest monthly average price since November 2014. EIA forecasts Brent spot prices will average $71 per barrel in 2018 and $68 per barrel in 2019.
West Texas Intermediate crude oil prices will average almost $7 per barrel lower than Brent prices in 2018 and $6 per barrel lower than Brent prices in 2019, according to EIA estimates.
EIA predicts U.S. crude oil production will rise to 11.8 million barrels per day in 2019 from 10.8 million barrels per day in 2018. Last year, U.S. crude oil production in May was 10.7 million barrels per day.