Diesel prices continue to tumble
April 21, 2020
•Land Line Staff
The average diesel fuel price for the U.S. continues to drop, according to a weekly report from the U.S. Energy Information Administration, hitting a national average of $2.48 per gallon.
The average price for a gallon of diesel across the U.S. dropped 2.7 cents per gallon in Monday’s report from the one a week before. Last week’s report was 4 cents cheaper than the week before.
In related news, the benchmark U.S. crude oil futures price traded at a negative price for the first time ever on Monday.
The slide in diesel fuel prices began 16 weeks ago, with the Jan. 6 report, when the average per gallon price for the U.S. was $3.079
A year ago, the average U.S. price was 66.7 cents higher.
The average price for diesel in the West Coast region including Calfornia dropped below $3 per gallon in Monday’s report for the first time since the Aug. 28, 2017, report. West Coast average diesel price stayed under $3 per gallon for more than two years before that.
Average U.S. diesel fuel price per gallon as reported by the EIA:
- U.S. – $2.48, down 2.7 cents.
- East Coast – $2.576, down 2.3 cents.
- New England – $2.709, down three-fifths of a cent.
- Central Atlantic – $2.747, down 3.5 cents.
- Lower Atlantic – $2.434, down 1.6 cents.
- Midwest – $2.326, down 2.7 cents.
- Gulf Coast – $2.272, down 1.7 cents.
- Rocky Mountain – $2.471, down 2.6 cents.
- West Coast – $2.974, down 5.4 cents.
- West Coast without California – $2.64, down 5.5 cents.
- California – $3.248, down 5.4 cents.
According to ProMiles.com, the average diesel fuel price in the U.S. on Monday, April 20, dropped 3.4 cents per gallon from the Monday before to $2.365.
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.
The average per gallon price for New England bucked the downward trend of all the other regions and subregions by going up. The increase was less than half a cent, however.
Here are the average U.S. diesel prices for a gallon of diesel reported for each region by ProMiles.com:
- U.S. – $2.365, down 3.4 cents.
- East Coast – $2.526, down 2.1 cents.
- New England – $2.712, up three-tenths of a cent.
- Central Atlantic – $2.713, down 2.9 cents.
- Lower Atlantic – $2.399, down 1.5 cents.
- Midwest – $2.274, down 3.9 cents.
- Gulf Coast – $2.248, down 3.5 cents.
- Rocky Mountain – $2.432, down 3 cents.
- West Coast – $2.815, down 5.8 cents.
- West Coast less California – $2.585, down 6.3 cents.
- California – $3.147, down 6.1 cents.
AAA reported the retail average diesel fuel price at $2.493 per gallon for Tuesday, April 21.
A week previous the average retail price was $2.524 per gallon.
A month previous, AAA reported $2.685 per gallon and a year ago $3.081 per gallon.
The highest recorded retail average of $4.845 per gallon of diesel on July 17, 2008, according to AAA.