Diesel Price Dips 1.8¢ to $3.476 a Gallon
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U.S. diesel prices dipped this week, reflecting a national average decline of 1.8 cents per gallon to $3.476, according to the U.S. Energy Information Administration’s Dec. 23 report.
The current price marks a reverse from last week’s 3.6-cent gain, which came on the heels of an 8.2-cent drop Dec. 9.
Over the past six weeks, there have been three increases and three decreases for a net decrease of 1.5 cents a gallon.
Year-Over-Year Comparison
Prices are down 43.8 cents compared with the same week in 2023, reflecting a steady downward trend. California’s 62.2-cent slide reflects the largest regional decline.
U.S. On-Highway Diesel Fuel Prices
U.S. Energy Information Administration
Regional Analysis
East Coast (PADD 1): The East Coast experienced a slight dip in diesel prices, declining by seven-tenths of a cent to $3.568 per gallon. This mirrors the national trend but masks significant intraregional variability:
• New England (PADD 1A): Prices edged up by three-tenths of a cent to $3.757 per gallon. However, the region maintains a significant year-over-year drop of 58.2 cents, the steepest decline among East Coast subregions.
• Central Atlantic (PADD 1B): Prices increased two-tenths of a penny, averaging $3.763 per gallon. Year over year, prices are down 56 cents.
• Lower Atlantic (PADD 1C): Diesel prices fell by 1.1 cents to $3.476, aligning with the national average.
Midwest (PADD 2): In the Midwest, diesel prices remained virtually flat, dropping just a tenth of a cent to $3.449 per gallon. This region has seen the smallest year-over-year decline nationally, with prices 34.9 cents lower than in 2023.
Gulf Coast (PADD 3): The Gulf Coast saw a significant decrease of 3.6 cents, bringing its average to $3.154 per gallon. This region continues to enjoy the nation’s lowest diesel prices, 45.4 cents lower than this time last year.
U.S. Energy Information Administration
Rocky Mountain (PADD 4): Prices in the Rocky Mountain region fell 2.9 cents to $3.328 per gallon, marking one of the sharper declines of the week. Year over year, the region has experienced a 58.8-cent drop, maintaining one of the largest annual decreases nationwide.
West Coast (PADD 5): The West Coast recorded the largest regional price variation this week:
• West Coast less California: Diesel prices fell sharply, 8.1 cents to $3.645 per gallon, the steepest weekly decline nationwide.
• California: Prices dropped 1.7 cents to $4.58 a gallon, continuing to reflect the nation’s largest year-over-year drop of 62.2 cents.
Gasoline Update
The national average price for a gallon of gasoline nudged up eight-tenths of a cent to $3.024. That's 9.2 cents less than it cost at this time a year earlier.
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