May 2023: Diesel Fuel Price Trends [Updated]

Heading into the final days of May 2023, national average retail diesel fuel prices dropped again to $3.86 per gallon, according to the U.S. Energy Information Administration (EIA). 

This average price continued the downward trajectory for diesel prices over the past several weeks, with a just close to 3 cent per gallon drop compared with the previous week and around $1.68 less compared to last year.

The U.S.'s Rocky Mountain and West Coast regions continue to have average diesel prices above the $4 per gallon mark, but both area have seen consistently declining prices. 

Check out Work Truck's latest weekly price diesel price update covering dipping and sliding diesel prices: 

U.S. Regional Diesel Fuel Prices as of May 29, 2023​

The final week of May 2023, average diesel prices as of May 22, by region are:

• East Coast: $3.89
• Midwest: $3.78
• Gulf Coast: $3.56
• Rocky Mountain: $4.07
• West Coast: $4.54

U.S. Regional Diesel Fuel Prices as of May 22, 2023​

Heading into the fourth week of May 2023, national average retail diesel fuel prices dropped to $3.88 per gallon. This average price dipped a smaller amount than in past weeks, just over 1 cent per gallon compared with the previous week and around $1.69 compared to last year.

Still, only the U.S.'s Rocky Mountain and West Coast regions have average diesel prices above the $4 per gallon mark, but the Rocky Mountain region is creeping up on that sub $4 per gallon price range with its average one-cent-per-week dips.

The fourth week of May 2023, average diesel prices as of May 22, by region are:

• East Coast: $3.91
• Midwest: $3.81
• Gulf Coast: $3.58
• Rocky Mountain: $4.09
• West Coast: $4.59

U.S. Regional Diesel Fuel Prices as of May 15, 2023​

Heading into the third week of May 2023, national average retail diesel fuel prices dropped to $3.90 per gallon, according to the U.S. Energy Information Administration (EIA). 

This average price dipped just over 2 cents per gallon compared with the previous week and $1.71 compared to last year.

National average diesel fuel prices during mid-May 2023 decreased in all regions week-over-week and year-over-year. 

The national average price for diesel in the U.S. is $3.90, staying below the $4 per gallon mark for the second week in a row. The last time the U.S. saw this national average was February 2022. 

Average diesel prices as of May 15, by region, are:

• East Coast: $3.93
• Midwest: $3.82
• Gulf Coast: $3.59
• Rocky Mountain: $4.09
• West Coast: $4.59

U.S. Regional Diesel Fuel Prices as of May 8, 2023​

Heading into the second week of May 2023, national average diesel fuel prices decreased weekly and year-over-year in all regions. 

The national average price for diesel in the U.S. is $3.92, dropping below the $4 per gallon mark for the first time since February 2022. 

Average diesel prices as of May 8, by region, are:

• East Coast: $3.99
• Midwest: $3.83
• Gulf Coast: $3.61
• Rocky Mountain: $4.11
• West Coast: $4.63

U.S. Regional Diesel Fuel Prices as of May 1, 2023

Starting May 2023, national average retail diesel fuel prices hit $4.02 per gallon, according to the U.S. Energy Information Administration (EIA). 

This average price dipped just under 6 cents per gallon compared to last year's previous week and $1.49.

May 2023 started with week-over-week average diesel fuel price decreases in all regions except for the Rocky Mountains, which increased slightly by just over 2 cents per gallon. 

Once again, all U.S. regions tracked by the EIA saw a price decrease for diesel fuel year-over-year.  

These average prices are seeing a dip due to several factors, most notably the jump in domestic oil production and a drop in worldwide demand for crude. 

According to a report from Reuters in February, "European buyers had increased purchases of Russian distillates ahead of the import ban that took effect on Feb. 4. A relatively warm winter across the United States and Europe and lower commercial trucking activity lowered demand.

Average diesel prices as of May 1, by region, are:

• East Coast: $4.07
• Midwest: $3.92
• Gulf Coast: $3.75
• Rocky Mountain: $4.15
• West Coast: $4.68

Looking at Average U.S. Gasoline Prices in May 2023

National average gasoline prices in the U.S. are primarily stable week-over-week, increasing less than 1 cent weekly. but they are on the rise week-over-week. The big news is looking at naitonal average year-over-year gasoline price dips, down about $1.05 cents compared to the previous year.  

The midwest and Gulf Coast regions saw a minor rise in gasoline prices in Mid-May but overall all regions (except the West Coast) are staying below the $4 per gallon mark heading into the warmer months. 

Average U.S. gasoline prices were $3.57 per gallon as of May 29, 2023.

Stay informed! Stay up-to-date on diesel fuel prices throughout the month by regularly checking for the latest updates. We will post new information as soon as it becomes available, so come back again!