On-highway diesel drops down a couple more cents

Distillate fuel production increased last week, averaging about 4.1 million barrels per day, according to EIA figures.

The Trucker News Services

4/27/2009

The price of on-highway diesel edged down slightly in all reporting regions, the Energy Information Administration reported today, with the national average dropping from $2.221 a week ago to $2.201 today, a decrease of 2.0 cents.

The lower Atlantic region saw the greatest diesel price decline, 2.6 cents, to $2.171 today from $$2.197 last week.

In the Midwest reporting region, on-highway diesel prices slipped 2.4 cents, from $2.166 last week to $2.142 today.

In the West Coast area, diesel prices only dipped 1.2 cents, to $2.315 today from $2.327 a week ago.

According to EIA, refiners have plunged from a seeming “golden age” investment environment “to a world with excess capacity, flat to declining demand, and weak margins.”

U.S. crude oil refinery inputs averaged about 14.5 million barrels per day during the week ended April 17, up 529 thousand barrels per day from the previous week’s average. Refineries operated at 83.4 percent of their operable capacity last week.

Distillate fuel production increased last week, averaging about 4.1 million barrels per day, according to EIA figures.

U.S. crude oil imports averaged nearly 9.9 million barrels per day last week, up 464 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.5 million barrels per day, 234 thousand barrels per day below the same four- week period last year.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.9 million barrels from the previous week. At 370.6 million barrels, U.S. crude oil

inventories are above the upper boundary of the average range for this time of year.

To see diesel prices for all reporting regions click here.

The Trucker staff may be reached to comment at editor@thetrucker.com.