National average retail diesel fuel pricing in late February 2023 decreased across the board once again to $4.30 per gallon as of February 27, 2023, according to the U.S. Energy Information Administration (EIA).
This average price represents a decrease of just over 8 cents per gallon compared with the prior week and an increase of only 19 cents over the same time last year.
What's Going on with U.S. Regional Diesel Fuel Prices?
For the fourth week in a row, all regions saw a price decrease for diesel fuel year-over-year. West Coast average prices have stayed below the $5 per gallon mark (except for California only, which is still averaging $5.38 per gallon of diesel).
Current average diesel prices by region are:
- East Coast: $4.45
- Midwest: $4.12
- Gulf Coast: $4.03
- Rocky Mountain: $4.56
- West Coast: $4.93
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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