Diesel Price Slips 1.3¢ to $3.755
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The national average diesel price dipped 1.3 cents to $3.755 per gallon, according to Energy Information Administration data released Aug. 5.
Highlights
Weekly Trend: Diesel’s national average price has decreased for the past four weeks, totaling 11 cents.
Year-Ago Comparison: A gallon of diesel now costs 48.4 cents less than it did at this time in 2023.
Regional Changes: Diesel’s average price declined in every region in EIA’s weekly survey but one. The Central Atlantic saw the largest drop of 3.7 cents; the Midwest experienced a slight increase of 0.2 cent.
Gasoline Update: The national average price for a gallon of gasoline dipped 3.6 cents to $3.448. That's 38 cents less than it cost at this time a year ago.
U.S. On-Highway Diesel Fuel Prices
U.S. Energy Information Administration
Regional Price Dynamics
East Coast (PADD 1): Diesel prices along the East Coast region fell by 1.4 cents to $3.830 per gallon. Within this region, New England saw a decline of 1.6 cents to $4.073, the Central Atlantic dropped by 3.7 cents to $3.991, and the Lower Atlantic decreased by 0.9 cent to $3.742.
Midwest (PADD 2): The Midwest region experienced a slight increase of 0.2 cent, bringing the average price to $3.729 per gallon, maintaining stability over the past week.
Gulf Coast (PADD 3): The Gulf Coast region saw the average price drop 3.2 cents to $3.436 per gallon. This region has the lowest average diesel price in the country.
PADD — Petroleum Administration for Defense Districts. U.S. Energy Information Administration
Rocky Mountain (PADD 4): Prices in the Rocky Mountain region fell by 1.6 cents, reaching an average of $3.702 per gallon.
West Coast (PADD 5): The West Coast region experienced a reduction of 1.4 cents, bringing the average price to $4.356 per gallon. Notably, California’s prices fell by 1 cent to $4.821, while the West Coast less California saw a decrease of 1.7 cents to $3.951.
Summary
This trend provides some relief to the transportation and logistics sectors, which continue to navigate fluctuating fuel costs amidst broader economic conditions. This trend suggests a favorable environment for diesel consumption, although market dynamics remain susceptible to change based on global energy policies and supply chain factors.
Generative AI assisted in this report.
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