Closing out May 2023, average diesel prices continued to decline across all regions heading into the summer months.  -  Photo: Work Truck/EIA

Closing out May 2023, average diesel prices continued to decline across all regions heading into the summer months.

Photo: Work Truck/EIA

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​

For the third week in a row, national average diesel prices stayed below $4 per gallon on average, but the Rocky Mountains and West Coast are still above the $4 mark.   -  Photo: Work Truck/EIA

For the third week in a row, national average diesel prices stayed below $4 per gallon on average, but the Rocky Mountains and West Coast are still above the $4 mark. 

Photo: Work Truck/EIA

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​

National average diesel prices have remained below $4 per gallon in the U.S. for two weeks in a row.   -  Photo: Work Truck/EIA

National average diesel prices have remained below $4 per gallon in the U.S. for two weeks in a row. 

Photo: Work Truck/EIA

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​

National average diesel prices dipped across all regions of the U.S. as of May 8, 2023.  -  Photo: Work Truck/EIA

National average diesel prices dipped across all regions of the U.S. as of May 8, 2023.

Photo: Work Truck/EIA

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

State of Fuel Industry: Gasoline & Diesel

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

Diesel fuel prices have been on a downward dive for several months, with experts aniticipating it should continue for at least a little bit.   -  Photo: Work Truck/EIA

Diesel fuel prices have been on a downward dive for several months, with experts aniticipating it should continue for at least a little bit. 

Photo: Work Truck/EIA

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!

About the author
Lauren Fletcher

Lauren Fletcher

Executive Editor - Fleet, Trucking & Transportation

Lauren Fletcher is Executive Editor for the Fleet, Trucking & Transportation Group. She has covered the truck fleet industry since 2006. Her bright personality helps lead the team's content strategy and focuses on growth, education, and motivation.

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