National average retail diesel fuel in late February 2023 decreased across the board once again to $4.38 per gallon as of February 20, 2023, according to the U.S. Energy Information Administration (EIA).
This average price represents a decrease of just over 6 cents per gallon compared with the prior week and an increase of just 32 cents over the same time last year.
What's Happening with Regional Diesel Fuel Prices?
For the third week in a row, all regions saw a price decrease for diesel fuel year-over-year. West Coast average prices have finally dropped below the $5 per gallon mark (although gasoline prices in that region were up week-over-week).
Current average diesel prices by region are:
- East Coast: $4.57
- Midwest: $4.19
- Gulf Coast: $4.10
- Rocky Mountain: $4.62
- West Coast: $4.97
Why Should Fleet Managers Monitor Fuel Prices?
Knowing the average diesel prices for work truck fleet managers is crucial for effective fleet management. Diesel fuel prices can significantly impact a fleet's operating costs, which can significantly impact the company's bottom line.
With constantly changing fuel prices, fleet managers must stay updated on the latest diesel prices to make informed decisions about fueling their vehicles. They need to know when, how much, and where to buy fuel to minimize costs and ensure that their trucks remain operational.
By closely monitoring diesel prices and trends, fleet managers can develop and implement cost-effective strategies to optimize fuel efficiency, reduce expenses, and ultimately improve the efficiency of their business.
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