Diesel Prices Lowest In A Decade
- truckfactoring1332
- Feb 9, 2016
- 3 min read
A lot of Truckers will love this good news about diesel price averages going down in all 10 regions in the U.S., according to Energy Information Administration. The average price of a gallon of on-highway diesel had a decrease of 2.3 cents from last week to round about $2.008 per gallon for the week ending Monday, Feb. 8. This makes the lowest nationwide weekly average since Feb.14, 2005 when diesel prices were $1.986. The largest average decrease was in Rocky Mountain region, prices at the pump dropped 5.5 cents per gallon. Prices were down about 1.2 cents in the Midwest region, the smallest decrease in nation. Following are the average prices by region as reported by the EIA: U.S. – $2.008, down 2.3 cents East Coast – $2.087, down 2.4 cents New England – $2.201, down 1.8 cents Central Atlantic – $2.224, down 1.5 cents Lower Atlantic – $1.959, down 3.3 cents Midwest – $1.929, down 1.2 cents Gulf Coast – $1.896, down 2.1 cents Rocky Mountain – $1.914, down 5.5 cents West Coast – $2.236, down 3.7 cents West Coast less California – $2.073, down 4.4 cents California – $2.369, down 3 cents The average retail price at truck stops was $1.938 on Monday morning, a 1.7-cent decrease from last week. The average for January was down 19.3 cents from December 2015 per ProMiles. 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. There is a little difference between 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 $2.002, with truckers in Maine paying an average of $2.399 per gallon, the highest in the nation. According to the site, Truckers in Missouri are paying a national low of $1.719 per gallon. No states in the Lower 48 states have been listed in excess of $4 per gallon at the pump since December 4, 2014. All 48 states in the contiguous U.S. have average prices below $3. A total of 30 states are reporting prices below $2, two more than last week. Prices slid for a third day on Monday after Venezuela’s oil minister Eulogio del Pino was unable to strike an agreement with Saudi Arabia's oil minister Ali al-Naimi to slow down production, increasing skepticism whether OPEC and non-OPEC suppliers can reach such a deal according to Bloomeberg. AAA has indexed diesel prices at $2.019 for Monday, 78.7 cents cheaper than this time last year and 20.7 cents less than a month ago. Hopefully this will help you determine where to get diesel and how to manage your money for fuel.
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