Diesel Price Dips 1.1¢ to $3.768 a Gallon
The national average diesel price dropped 1.1 cents to $3.768 a gallon, according to Energy Information Administration data released July 29.
Highlights
Weekly Trends: Diesel’s national average price has now dropped for three consecutive weeks, totaling 9.7 cents over this period.
One Year Ago: A gallon of diesel now costs 35.9 cents less than it did at this time in 2023.
Regional Changes: Diesel’s average price declined in nine out of the 10 regions in EIA’s weekly survey, with decreases ranging from 4.3 cents in California to a marginal drop of half a cent in the Midwest. The Gulf Coast region saw a slight increase of seven-tenths of a cent.
Gasoline Price Update: The national average price for a gallon of gasoline inched up 1.3 cents to settle at $3.484 a gallon. Still, that’s 27.3 cents less than it cost at this time in 2023.
Analysis
This marks the third consecutive week of decreases, accumulating a total reduction of 9.7 cents. Compared with the same period last year, the national average has decreased 35.9 cents.
U.S. On-Highway Diesel Fuel Prices
U.S. Energy Information Administration
Regional Price Dynamics
East Coast (PADD1): The East Coast region saw a decrease of 2.8 cents, bringing the average price to $3.844 per gallon. This region remains 30.9 cents lower than the same time last year.
New England (PADD1A): Prices in New England slightly dropped by 1.2 cents to $4.089, which is 7.2 cents less than a year ago.
Central Atlantic (PADD1B): The Central Atlantic region experienced a more notable decline of 3.3 cents, with prices now averaging $4.028, reflecting a 26.3-cent year-over-year decrease.
Lower Atlantic (PADD1C): In the Lower Atlantic, diesel prices fell by 2.7 cents to $3.751, which is 35 cents lower compared to last year.
PADD — Petroleum Administration for Defense Districts. U.S. Energy Information Administration
Midwest (PADD2): The Midwest region had a minor reduction of half a cent, resulting in an average price of $3.727, which is 37.8 cents lower than the previous year.
Gulf Coast (PADD3): Contrarily, the Gulf Coast saw a slight increase of seven-tenths of a cent, with the average price now at $3.468 per gallon. Despite this weekly rise, the price remains 36.3 cents lower than at this time in 2023.
Rocky Mountain (PADD4): Prices in the Rocky Mountain region decreased by 1.3 cents, averaging $3.718 per gallon, a drop of 40.9 cents from the year-ago period..
West Coast (PADD5): The West Coast saw a reduction of 2.4 cents, with prices now at $4.370 per gallon, which is 38.3 cents lower than in 2023.
West Coast Less California: This subregion experienced a slight decrease of 0.9 cents, bringing the price to $3.968, a 43.3-cent decrease from last year.
California: California’s prices fell by 4.3 cents to $4.831, which is 32.7 cents lower than the previous year.
Generative AI assisted in this report.
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