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 rose across three of the country's five regions.

The average price of diesel fuel in the U.S. per gallon dipped again as of Sept. 23, 2024. The national average price, $3.54, represents an increase of slightly more than 1 cent from last week. However, diesel prices are down about $1.05 compared to last year.

Prices are still drastically lower than in April, and the downward pricing trend of July continued into August and now September.

Regional average prices increased this week in three regions — Midwest, Gulf Coast, and Rocky Mountain. The increases ranged from 2 to 3 cents. The East Coast and West Coast regions saw price decreases of less than 1 cent.  

The most expensive place to buy diesel is Hawaii, at $5.41 per gallon. The least costly is still Oklahoma, at $3.12 per gallon.

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 are: 

• East Coast: $3.58 

• Midwest: $3.51 

• Gulf Coast: $3.19 

• Rocky Mountain: $3.61 

• West Coast: $4.24 

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

At the start of the third week of September 2024 the average diesel prices, as of Sept. 16, reported by region are: 

• East Coast: $3.58 

• Midwest: $3.48 

• Gulf Coast: $3.17 

• Rocky Mountain: $3.59 

• West Coast: $4.24 

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

Heading into the second week of September 2024 the average diesel prices, as of Sept. 10, reported by region are: 

• East Coast: $3.62 

• Midwest: $3.53 

• Gulf Coast: $3.19 

• Rocky Mountain: $3.57 

• West Coast: $4.26 

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

Heading into the first week of September 2024 the average diesel prices, as of Sept. 3, reported by region are: 

• East Coast: $3.67 

• Midwest: $3.61 

• Gulf Coast: $3.26 

• Rocky Mountain: $3.59 

• West Coast: $4.29 

AAA: Gas Prices Dip Again

National average gasoline prices dipped to $3.32 at the start of September, and AAA reported a small uptick in gas demand possibly driven by late-summer travel. However, AAA reported that a storm system forming in the Atlantic may also threaten falling gas prices.

Ga demand rose at the end of August from 9.19 million b/d to 9.30. Meanwhile, total domestic gasoline stocks fell from 220.2 to 218.4 million barrels, and gasoline production decreased last week, averaging 9.6 million daily.

Oil Market Considerations

In the final week of August, AAA reported West Texas Intermediate (WTI) fell by $1.01 to settle at $74.52 a barrel. EIA reported that crude oil inventories decreased by 0.8 million barrels from the previous week.

At 425.2 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.