Average diesel prices in the U.S. decreased across all regions of the U.S. as of Aug. 26, 2024.
Photo: Work Truck /EIA
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What's the story with diesel fuel prices in the U.S.? How do they compare to previous weeks? According to the most recent report by the U.S. Energy Information Administration (EIA), the average cost of diesel fuel for fleets has decreased again across all five regions of the country.
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The average price of diesel fuel in the U.S. per gallon dipped again as of Aug. 26, 2024. The national average price, $3.65, represents a decrease of nearly 4 cents from last week and more than 8 cents compared to last year.
Prices are still drastically lower than in April, and the downward pricing trend of July continues into the fourth week of August.
All regional average prices decreased this week, ranging from just over 2 cents to nearly 5 cents per gallon. The Midwest region saw the largest decrease week over week, while the West Coast region saw the smallest change, a decrease of less than a cent.
The most expensive place to buy diesel is Hawaii, at $5.41 per gallon. The least costly is still Oklahoma, at $3.18 per gallon.
U.S. Regional Diesel Prices: 4th Week of August
Heading into the third week of August 2024, the average diesel prices, as of Aug. 26, reported by region are:
East Coast: $3.72
Midwest: $3.62
Gulf Coast: $3.32
Rocky Mountain: $3.61
West Coast: $4.27
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U.S. Regional Diesel Prices: 3rd Week of August
Average diesel prices in the U.S. decreased across all regions of the U.S. as of Aug. 19, 2024.
Photo: Work Truck /EIA
Heading into the third week of August 2024 the average diesel prices, as of Aug. 19, reported by region are:
East Coast: $3.78
Midwest: $3.67
Gulf Coast: $3.35
Rocky Mountain: $3.65
West Coast: $4.29
U.S. Regional Diesel Prices: 2nd Week of August
Average diesel prices in the U.S. decreased across all regions of the U.S. as of Aug. 12, 2024.
Photo: Work Truck /EIA
Heading into the second week of August 2024 the average diesel prices, as of Aug. 12, reported by region were:
East Coast: $3.78
Midwest: $3.68
Gulf Coast: $3.37
Rocky Mountain: $3.70
West Coast: $4.31
U.S. Regional Diesel Prices: 1st Week of August
Average diesel prices in the U.S. decreased across all regions of the U.S. as of Aug. 5, 2024.
Photo: Work Truck /EIA
Heading into the first week of August 2024 the average diesel prices, as of Aug. 5, reported by region were:
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East Coast: $3.83
Midwest: $3.73
Gulf Coast: $3.44
Rocky Mountain: $3.70
West Coast: $4.36
U.S. Regional Diesel Prices: End of July
In the final week of July 2024, the average diesel prices by region, as of July 29, 2024, were:
East Coast: $3.84
Midwest: $3.73
Gulf Coast: $3.47
Rocky Mountain: $3.72
West Coast: $4.37
AAA: Gas Prices Tumble
National average gasoline prices dipped to $3.48 at the start of August. However, AAA noted rising tensions in the Middle East could push oil prices higher.
Gas demand slid from 9.45 million b/d to 9.25 in the last week of July and total domestic gasoline stocks fell from 227.4 to 223.8 million barrels. Gasoline production decreased last in the final week of July, averaging 10.0 million barrels per day. AAA said lower gasoline demand with higher oil costs may lead to flat or slowly rising pump prices dipping, but that depends on Atlantic storm development.
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Oil Market Considerations
At the start of August, AAA reported West Texas Intermediate (WTI) rose dramatically by $3.18 to $77.91 a barrel. EIA reported crude oil inventories decreased by 3.4 million barrels from the previous week.
At 433 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
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