Diesel Price Rises 4¢ to $3.584 a Gallon
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The national average diesel price increased 4 cents to $3.584 per gallon, according to U.S. Energy Information Administration data released Oct. 7.
This marks the third consecutive gain, totaling 5.8 cents. The recent run of increases comes after 10 straight weeks of declines.
Year Over Year
The national average price of diesel is 91.4 cents less than at this time in 2023, continuing the substantial annual price decreases seen throughout the year.
Gasoline Update
The national average price for a gallon of gasoline dropped 4.3 cents to $3.136. That's 54.8 cents less than it cost at this time in 2023.
Regional Analysis
East Coast (PADD 1): Diesel prices in the East Coast region saw a slight decline of 0.8 cent to $3.563 per gallon. Subregions within the East Coast displayed mixed results:
- New England (PADD 1A) recorded a more significant decline, with prices dropping 2.3 cents to $3.765 a gallon. Year over year, New England prices are down 81.2 cents, reflecting improvements in regional supply stability and lower heating oil demand.
- The Central Atlantic (PADD 1B) was the only subregion on the East Coast to report an increase, rising 1.9 cents to $3.821 per gallon. That still is 90 cents below the year-ago period.
- The Lower Atlantic (PADD 1C) continued its decline, with prices slipping 1.6 cents to $3.447 per gallon, bringing the year-over-year reduction to 90.2 cents.
U.S. On-Highway Diesel Fuel Prices
U.S. Energy Information Administration
Midwest (PADD 2): The Midwest saw the largest regional increase, with diesel prices climbing 6.7 cents to $3.587 per gallon. This surge can be attributed to seasonal factors, such as heightened demand during the harvest season. Despite the weekly increase, Midwest diesel prices are 78.9 cents, below levels from a year ago.
Gulf Coast (PADD 3): The Gulf Coast reported a 5.4-cent rise in diesel prices, bringing the cost per gallon to $3.266. As the nation’s primary refining hub, the Gulf Coast continues to experience lower prices compared with other regions. However, the latest increase narrows the year-over-year decline to 87.3 cents.
PADD — Petroleum Administration for Defense Districts. U.S. Energy Information Administration
Rocky Mountain (PADD 4): Diesel prices in the Rocky Mountain region rose just eight-tenths of a cent to $3.620 a gallon, maintaining the region’s trend of limited volatility. The region’s isolation from broader distribution networks contributes to this stability, with prices now $1.097 below last year’s levels — the most significant year-over-year decline among all regions.
West Coast (PADD 5): The West Coast saw a moderate increase of 3.5 cents, pushing prices to $4.261 per gallon. Within the region:
- West Coast less California prices increased by 4.4 cents to $3.841 per gallon. The subregion’s year-over-year decline stands at $1.252.
- California, which consistently reports the nation’s highest diesel prices, saw a gain of 2.3 cents, bringing the price to $4.742 per gallon. This marks a $1.436 decrease compared with the year-ago period.
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