According to the most recent report by the U.S. Energy Information Administration (EIA), the national average cost of diesel fuel for fleets increased this week, and four of five regions saw increases. 

The national average price of diesel fuel in the U.S. per gallon rose by nearly 2 cents as of Oct. 28, 2024. The average price of $3.57 is 88 cents cheaper than at the same time last year. 

Regional average prices increased this week in four of five regions: East Coast, Midwest, Gulf Coast, and Rocky Mountain. The increases ranged from 1 1/2 cents for the East Coast to slightly more than 3 cents for the Gulf Coast. The West Coast average dropped by less than half a cent.

The most expensive place to buy diesel is Hawaii, at $5.35 per gallon, and the least costly is Texas, at $3.05 per gallon.

At the start of the final week of October 2024, the average diesel prices, as of Oct. 28, reported by region were: 

• East Coast: $3.60 

• Midwest: $3.57 

• Gulf Coast: $3.23 

• Rocky Mountain: $3.65 

• West Coast: $4.21 

U.S. Regional Diesel Prices: 4th Week of October

At the start of the fourth week of October 2024, the average diesel prices, as of Oct. 21, reported by region were: 

• East Coast: $3.59 

• Midwest: $3.54 

• Gulf Coast: $3.20 

• Rocky Mountain: $3.64 

• West Coast: $4.21 

U.S. Regional Diesel Prices: 3rd Week of October

At the start of the third week of October 2024, the average diesel prices, as of Oct. 15, reported by region were: 

• East Coast: $3.59 

• Midwest: $3.65 

• Gulf Coast: $3.34 

• Rocky Mountain: $3.63 

• West Coast: $4.27 

U.S. Regional Diesel Prices: 2nd Week of October

At the start of the second week of October 2024, the average diesel prices, as of Oct. 7, reported by region were: 

• East Coast: $3.56 

• Midwest: $3.59 

• Gulf Coast: $3.27 

• Rocky Mountain: $3.62 

• West Coast: $4.26 

U.S. Regional Diesel Prices: 1st Week of October

At the start of the first week of October 2024, the average diesel prices, as of Sept. 30, reported by region were: 

• East Coast: $3.57 

• Midwest: $3.52 

• Gulf Coast: $3.21 

• Rocky Mountain: $3.61 

• West Coast: $4.23 

U.S. Regional Diesel Prices: 4th Week of September

At the start of the third week of September 2024, the average diesel prices, as of Sept. 23, reported by region were: 

• East Coast: $3.58 

• Midwest: $3.51 

• Gulf Coast: $3.19 

• Rocky Mountain: $3.61 

• West Coast: $4.24 

AAA: Hurricane Impacts Gas Demand

Before Hurricane Helene made landfall, the AAA suggested the storm would impact gasoline demand but not supply. Areas hit by power outages and damage were predicted to result in lower gasoline demand. But the storm missed the Gulf Coast’s production and refining centers.

Ga demand rose in late September to 9.20 million barrels per day, prior to the hurricane’s arrival.

Oil Market Considerations

In the final full week of September, AAA reported West Texas Intermediate (WTI) fell by $1.87 to settle at $69.69 a barrel. EIA reported that crude oil inventories decreased by 4.5 million barrels from the previous week. 

At 412 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.