October 2023: Diesel Fuel Prices Dipping

Based on the latest report by the U.S. Energy Information Administration (EIA), diesel fuel prices have been experiencing a bit of a roller coaster once again with prices. Closing out October 2023 national average diesel fuel prices topped at $4.45 as of October 30, 2023. The week-over-week decrease is down about 9 cents and is down just over 86 cents compared with the same time last year.

Check out Work Truck's latest weekly price diesel price update covering the steadily increasing diesel prices.

Average diesel prices as of October 30, by region, are:

• East Coast: $4.34
• Midwest: $4.44
• Gulf Coast: $4.12
• Rocky Mountain: $4.65
• West Coast: $5.35

U.S. Regional Diesel Fuel Prices as of October 23, 2023

Based on the latest report by the U.S. Energy Information Administration (EIA), diesel fuel prices have remained largely stable in the fourth week of October 2023, with prices topping at $4.55 as of October 23, 2023. The week-over-week increase is up to just over 10 cents but is still down 79 cents compared with the same time last year.

After a small dip the weeks of October 9 and 16, diesel prices are on the rise once again. The only region that saw a decrease this week was the West Coast, including California.   

Average diesel prices as of October 23, by region, are:

• East Coast: $4.41
• Midwest: $4.55
• Gulf Coast: $4.19
• Rocky Mountain: $4.75
• West Coast: $5.47

U.S. Regional Diesel Fuel Prices as of October 2, 2023

Diesel fuel prices remained largely stable in the first week of October 2023, with prices reaching $4.59 as of October 3, 2023. The week-over-week increase is less than 1 cent.

Unfortunately, diesel prices are on the rise once again. This is disappointing news after the last week of September saw a slight price decrease following 10 consecutive weeks of price increases starting in mid-July.

While national average prices saw just under a 1-cent drop over last week, overall diesel fuel prices are still down 24 cents per gallon compared to the previous year.

Average diesel prices as of October 2, by region, are:

• East Coast: $4.54
• Midwest: $4.45
• Gulf Coast: $4.28
• Rocky Mountain: $4.78
• West Coast: $5.70

What's Up with U.S. Gasoline Prices? 

National average U.S. gasoline prices have continued their decrease closing out October 2023. 

Sitting at $3.47 on a national average, this price represents close to a 6-cent drop compared to the previous week and is just over 26 cents lower than last year. However, while getting close, prices have yet to drop to the lows we saw in January of this year. 

In June 2023, the Wall Street Journal reported that Americans may have to wait until the end of the year to see a significant decrease in fuel prices. The EIA predicts that gasoline prices may drop to roughly $3.30 per gallon, but only time will reveal if this prediction will come true.