Nationwide diesel prices take tiny tick upward; difference 1 cent or less in all regions

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Changes in diesel prices were barely noticeable during the week ending September 24, with most regions seeing a gain of 1 cent or less, while there were a few regions where the price dropped by a fraction of a cent, and there was no change at all on much of the West Coast, according to the U.S. Energy Information Administration (EIA).

Put it all together, and the nationwide average price for a gallon of diesel rose a mere $0.003, to $3.271. The bad news is the price has climbed throughout the month of September; the good news is the gain has been less than 2 cents so far for the entire month.

The Midwest saw the largest gain this week, with a full penny increase, from $3.208 to $3.218. By contrast, diesel dropped by $0.008 in the Rocky Mountain region, to finish the week at $3.355.

The Gulf Coast was the only other region where diesel dropped. There, it fell from $3.056 to $3.052.

Overall on the East Coast, diesel rose by $0.002, from $3.252 $3.254, with New England experiencing a hike of $0.003, while in the Central and Lower Atlantic, prices rose by one-tenth of a cent.

Prices on the West Coast, minus California, were flat for the week at $3.759. In California, however, the price jumped by $0.007, from $3.979 to $3.986, raising the overall West Coast average by $0.004, from $3.755 to $3.759.

Oil futures jumped September 24, as a committed of OPEC and non-OPEC oil producers concluded a weekend meeting without a plan to increase production to offset an estimated 2 million barrels per day that will be lost when U.S. sanctions against Iran begin November 4.

Brent crude futures rose $2.42 to settle at $81.20 a barrel, the highest since November 12, 2014. U.S. West Texas Intermediate crude jumped by $1.30 to end at $72.08 a barrel.

Click here for a complete list of average prices by region for the past three weeks.

 

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