Diesel Price Dips 2.6¢ to $3.625 a Gallon
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The national average diesel price fell by 2.6 cents to $3.625 per gallon, according to U.S. Energy Information Administration data on Sept. 2. This marks the eighth consecutive week of declines, totaling 24 cents.
Year Over Year
Over the past year, diesel prices have decreased significantly across all regions, with the national average down 86.7 cents. The most substantial year-over-year drops have been observed in the Rocky Mountain and West Coast regions, where prices have decreased by $1.137 and $1.097 per gallon, respectively.
Gasoline Update
The national average price for a gallon of regular gasoline went down 2.4 cents to $3.289 That's 51.8 cents less than it cost at this time in 2023.
U.S. On-HIghway Diesel Fuel Prices
U.S. Energy Information Administration
Regional Analysis
Diesel prices declined in four of the five PADD regions in EIA’s weekly survey, the exception being the West Coast.
East Coast (PADD 1): The average diesel price in the East Coast region dropped by 3.9 cents, settling at $3.686 per gallon. Within this region, New England (PADD 1A) experienced a decrease of 5 cents, bringing its average diesel price to $3.919 per gallon. The Central Atlantic (PADD 1B) saw a 1.2-cent dip, and the Lower Atlantic (PADD 1C) shed 4.8 cents a gallon.
Midwest (PADD 2): Midwest diesel prices edged down 1.4 cents to $3.613 a gallon, showing a slower rate of decline compared with previous weeks. However, the region has consistently seen significant price reductions over the past two months.
Gulf Coast (PADD 3): The Gulf Coast, which remains the region with the lowest diesel prices, recorded a per-gallon drop of 5.2 cents, bringing the average to $3.265.
PADD — Petroleum Administration for Defense Districts. U.S. Energy Information Administration
Rocky Mountain (PADD 4): The Rocky Mountain region saw a drop of 1.8 cents, lowering the average price to $3.59 per gallon. .
West Coast (PADD 5): The West Coast region was the only area where diesel prices increased, rising 2.1 cents a gallon to $4.293. This uptick primarily was driven by California, where prices increased by 4.2 cents to $4.749 per gallon, despite a year-over-year decrease of $1.052.
What It Means
Looking forward, diesel prices may continue to face downward pressure due to ongoing trends in global oil markets and domestic fuel demand. However, regional variations are likely, especially in areas such as the West Coast, where supply chain dynamics and environmental regulations can lead to price volatility.
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