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 likewise reported higher averages.

The national average price of diesel fuel in the U.S. per gallon increased by nearly 5 cents as of Nov. 25, 2024. The average price of $3.54 is 61 cents cheaper than at the same time last year. 

Regional average prices increased this week in four regions: East Coast, Midwest, Gulf Coast, and West Coast. The price increases ranged from nearly 3 cents for the West Coast region to more than 4 cents for the Midwest region. The average price dropped by less than 1 cent for the Rocky Mountain region.

The most expensive place to buy diesel is Hawaii, at $5.29 per gallon, and the least costly is Oklahoma, at $2.99 per gallon.

Regional Diesel Prices: 3rd Week of November

At the start of the third week of November 2024, the average diesel prices, as of Nov. 18, reported by region were: 

• East Coast: $3.55 

• Midwest: $3.47 

• Gulf Coast: $3.15 

• Rocky Mountain: $3.45 

• West Coast: $4.15 

Regional Diesel Prices: 2nd Week of November

At the start of the second week of November 2024, the average diesel prices, as of Nov. 12, reported by region were: 

• East Coast: $3.58 

• Midwest: $3.50 

• Gulf Coast: $3.17 

• Rocky Mountain: $3.52 

• West Coast: $4.18 

Regional Diesel Prices: 1st Week of November

At the start of the first week of November 2024, the average diesel prices, as of Nov. 4, reported by region were: 

• East Coast: $3.59 

• Midwest: $3.52 

• Gulf Coast: $3.18 

• Rocky Mountain: $3.58 

• West Coast: $4.19 

Regional Diesel Prices: Final Week of October

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 

AAA: Gas Prices Dip Again

At the end of October, the national average price of a gallon of gas dipped to $3.13, and AAA cited low oil costs and tepid domestic gasoline demand as the primary reasons.

“After the brief interruption caused by Hurricanes Helene and Milton, gas prices have resumed their gradual season decline,” said Andrew Gross, AAA spokesperson. “We are only about seven cents away from the national average’s 2024 low, and it will likely keep rolling and fall below $3 soon.” 

Energy Demands & Production

According to the EIA, gas demand rose slightly near the end of October, reaching 9.15 billion barrels daily. 

In the month's final week, 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. Gasoline production decreased to 9.7 million barrels daily.

At 425.5 million barrels, US crude oil inventories were about 4% below the five-year average for this time of year in late October.