Midwest diesel jumped 4.9% last week as regional fuel gaps widened
Every region rose, but from a 0.6% bump in New England to nearly 5% in the Midwest -- enough to change where a tank is worth filling.
Midwest diesel rose 4.9% last week to $5.435 a gallon, the steepest regional increase in the country in the Energy Information Administration's pump survey for the week of 17 August.
The move stood out against a near-flat New England, where the average rose just 0.6% to $5.545. Every EIA region gained on the week, but the pace ranged from that New England crawl to the Midwest's near-5% jump. The Gulf Coast rose 3.8% to $5.237 and the Lower Atlantic 3.4% to $5.204.
For anyone planning fuel stops, that reshuffles the map. The cheapest pumps on the survey are now in the Lower Atlantic at $5.204 and the Gulf Coast at $5.237. The most expensive stay on the West Coast: California at $6.785 and the wider West Coast region at $6.203 -- a spread of more than a dollar and a half a gallon between the two ends of the country. A driver running east of the Rockies pays a very different price this week depending on which side of the Mississippi they fill.
Year on year the picture is uniform and steep. Every region is up around 40% or more from a year ago, with the Gulf Coast leading at 56.8%.
The reason sits in the distillate market rather than at the truck stop. FreightWaves reports diesel has kept running higher than the rest of the crude barrel since the Iran war began.
These are retail pump averages including taxes, surveyed each Monday. Fleets buying on contract at truck stops pay less than the headline, and the gap widens when prices move fast -- so read the regional figures as direction, not as what you will pay.
Elsewhere
Data behind this story
- Weekly Retail On-Highway Diesel Prices U.S. Energy Information Administration · Public domain (U.S. Government work)