Gasoline and Diesel Weekly: Fuels Offer Mild Declines

June 17, 2013 11:20 AM
 

Farm Diesel --nozzle

Farm diesel moved $0.008 lower during the report week to $3.427/gallon according to Inputs Monitor data with seven of the twelve states in our Index unchanged.

Illinois led decliners by dropping 7 cents to $3.46. All other movement was confined to 2 cents or less.

Nebraska softened one penny to hold the least expensive farm diesel in our index at $3.28/gallon. Kansas and Missouri square off again for second place at $3.31 and $3.30/gallon respectively -- each unchanged week-over. Behind that, Iowa falls fourth in line at $3.36. All others post a handle at $3.41 or above.

The largest gain was a one cent increase in Minnesota to $3.45.

This flat pricing action suggests suppliers are relying on product on hand. Declines signal a desire to sell off remaining inventory, which is low by now. As suppliers refill, we expect seasonal price increases to follow as fresh pricing points will be set upstream.

Farm Diesel 6/17/13
Three Weeks Ago
Previous Week
Current Week
Change
Iowa
$3.36
$3.37
$3.36
-$0.01
Illinois
$3.53
$3.53
$3.46
-$0.07
Indiana
$3.56
$3.58
$3.56
-$0.02
Wisconsin
$3.41
$3.41
$3.41
unchanged
Minnesota
$3.44
$3.44
$3.45
+$0.01
South Dakota
$3.42
$3.42
$3.42
unchanged
North Dakota
$3.56
$3.56
$3.56
unchanged
Nebraska
$3.31
$3.29
$3.28
-$0.01
Missouri
$3.30
$3.30
$3.30
unchanged
Kansas
$3.30
$3.31
$3.31
unchanged
Ohio
$3.49
$3.49
$3.49
unchanged
Michigan
$3.51
$3.53
$3.53
unchanged
Midwest Average
$3.431
$3.435
$3.427
-$0.008

Gasoline-

The retail price for regular gasoline fell 3 cents during the report week to a national average of $3.626 -- $0.093 above year-ago.

East Coast up $0.013 to $3.504; Midwest gasoline down 13 cents to $3.378 -- still 17 cents above year-ago;Gulf Coast up 4 cents to $3.378; Rocky Mountain $0.032 lower to $3.688 and the West Coast one penny higher to $3.888.

Highway Diesel --

The national average price of highway diesel fell $0.008 to $3.841 -- $0.112 above year-ago.

East Coast highway diesel down $0.04 to $3.835; Midwest $0.018 lower to $3.859; Gulf Coast down $0.007 to $3.741; Rocky Mountain region fell $0.017 to $3.848 and West Coast highway diesel added $0.009 to $3.954.


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