Diesel Fuel Prices Keep Falling but Fleet Fuel Margins Raise

The Energy Information Administration (EIA) reported that

the price for U.S. on-highway diesel fuel price fell 1.7 cents to $3.894

per gallon, the seventh consecutive weekly decrease and

lowest price for diesel fuel since early August. (The EIA is the statistical

agency of the U.S. Department of Energy.) The national

average price is currently 1% or 4 cents higher than at this

time last year. So, we are close at least the fleet fuel cards aren’t burning in our drivers hands.

Diesel fuel prices were down across most of the country again this

week. California’s price increased 1.5 cents to $4.063 last

week, the most expensive diesel price of all regions. In the East

Coast, fleet fuel prices slipped four-tenths of a penny to $4.002. The

Gulf Coast price fell 1.3 cents to $3.824. In the Midwest,

Diesel fuel prices were down 3.6 cents from last week to $3.834, the

largest weekly decrease, which is great for all of those fuel cards and bulk fueling tanks.

The price of West Texas Intermediate (WTI) crude oil

settled at $93.56 per barrel on Friday, 47 cents above a

week earlier. Compared with a year earlier, the price of WTI

was down 5.2%.

The EIA also reported that the price of regular grade gas prices fell four tenths of a penny to $3.303 per gallon.

The gas prices are 2.6% or 8.8 cents more expensive

than a year ago. Diesel fuel prices costs 59.1 cents more than

gas prices and I would expect that spread between each fleet fuel to remain the same or even grow larger

Last week, the EIA said that U.S. commercial crude oil

stockpiles increased 0.4% to 361.3 million barrels during

the week of January 4, 2012. Compared with a year ago,

crude oil inventories increased 8%.

Meanwhile, total distillate stocks were up 5.5% from last

week at 130.7 million barrels, which was 11.4% lower than

at the same time in 2011. Demand for distillates was down

3.9% from the previous week and 4.6% from the same

time last year. Nationwide, refineries were operating at

89.1% of capacity.

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