National Diesel Average Drops to Lowest Level Since June 2009
The average price of diesel fuel in the United States declined to the lowest level since June 2009, the Department of Energy reported Sept. 21.
The price declined 2.4 cents a gallon to $2.493. The decrease follows a 1.7-cent dip last week.
The national average for trucking’s main fuel was cheaper by $1.285 a gallon from a year ago, DOE’s Energy Information Administration said after its weekly survey of fueling stations.
Retail prices for the fuel declined in all major regions of the country. The largest was a 4-cent drop in New England.
Gasoline dropped 4.8 cents to $2.327 a gallon. The decline follows a 6.2-cent dip the prior week. The price of gas fell in every region, with the West Coast's 8.1-cent drop being the largest.
West Texas Intermediate for October delivery which expires Sept. 22, rose $2, or 4.5%, to settle at $46.68 a barrel on the New York Mercantile Exchange. The volume of all futures traded was 28% below the 100-day average. The more active November contract increased $1.94 to $46.96, Bloomberg News reported.
U.S. crude output has fallen for six weeks as the price slump over the past year takes its toll on the shale-oil industry, Bloomberg reported.
Separately, Wex Inc. signed an agreement with BP to accept its fleet card at 200 BP-supplied Arco stations in the Washington and Oregon area, according to the company.
“We are dedicated to helping our customers streamline their payments, and this relationship with BP Arco will help us extend that to customers fueling in the Pacific Northwest region,” Brian Fournier, vice president, merchant and channel partner at Wex, said in a statement. “Wex has one of the largest proprietary fuel networks in the country with acceptance at more than 90% of service stations, and this agreement will provide local customers with increased convenience and security.”
The addition follows 146 stations in Washington that began accepting Wex’s fuel card last year. The company said it expects the remaining BP Arco sites in Oregon to begin accepting its card by early 2016. The price of diesel declined 2.1 cents a gallon in the West Coast excluding California, according to DOE.
“Wex’s credit and fuel card acceptance will improve the fueling experience in Washington and Oregon, and it will provide regional fleet managers with additional tools and insights to make better business decisions,” Donna Sanker, head of BP’s West Coast retail business, said in a statement.
