Diesel Price Gains 3.6¢ to $3.494 After Last Week’s Decline
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U.S. diesel prices rose modestly by 3.6 cents to an average of $3.494 per gallon, according to U.S. Energy Information Administration data released Dec. 16. This marks the third increase since Nov. 18, the exception being last week’s 8.2-cent drop.
The average price increased in all five regions in EIA’s weekly survey, with the largest being 6 cents a gallon in the Gulf Coast.
Year-over-Year Comparison
Diesel fuel prices are down 40 cents versus the same period in 2023. The Rocky Mountain region has shown the largest decline from a year earlier at 57.6 cents.
U.S. On-Highway Diesel Fuel Prices
U.S. Energy Information Administration
Regional Analysis
East Coast (PADD 1): The East Coast saw a 4-cent increase, averaging $3.575 per gallon, driven primarily by sharp gains in the Lower Atlantic:
• New England (PADD 1A): Prices dipped by a slight 0.1 cent to $3.754 per gallon, reflecting relative stability in the region. Prices are down 60.8 cents year-over-year, the largest drop among East Coast subregions.
• Central Atlantic (PADD 1B): A modest 1.1-cent increase brought the regional average to $3.761 per gallon, marking a 57.5-cent year-over-year decline.
• Lower Atlantic (PADD 1C): Prices rose by 5.5 cents, the steepest regional gain nationwide, with diesel now averaging $3.487 per gallon. Year-over-year, prices are down 30.6 cents, reflecting the region’s smaller declines compared with others.
Midwest (PADD 2): The Midwest reported a 2.5-cent increase, bringing its average to $3.45 per gallon. Despite the weekly rise, prices are still 35.6 cents lower year-over-year, aligning with the national trend.
Gulf Coast (PADD 3): The Gulf Coast experienced the largest weekly increase, with prices jumping by 6 cents to $3.19 per gallon. This region continues to enjoy the nation’s lowest diesel prices and a year-over-year decline of 37.9 cents.
U.S. Energy Information Administration
Rocky Mountain (PADD 4): Diesel prices in the Rocky Mountain region rose 2.8 cents, averaging $3.357 per gallon. Compared with the same week in 2023, prices are down 57.6 cents, maintaining one of the largest year-over-year declines in the nation.
West Coast (PADD 5): The West Coast average rose 1.1 cents to $4.13 per gallon, with significant disparities between California and the rest of the region:
• California: Prices dropped 2.6 cents, settling at $4.597 per gallon. This is the largest year-over-year drop nationally, with prices down 63.4 cents compared with 2023.
• West Coast less California: Diesel prices increased by 4.4 cents, averaging $3.726 per gallon, down 42.7 cents year-over-year.
Gasoline Update
The national average price for a gallon of gasoline rose eight-tenths of a cent to $3.016. That's 3.7¢ less than it cost at this time a year ago.
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