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Diesel prices jump a dime

Oct. 24, 2023
Average diesel prices across the U.S. rose by several cents after trending downward for the past two weeks, driven primarily by a 25-cent spike in the Midwest.

Though recent diesel price trends have still largely kept with what AAA calls an “autumnal dip,” pump prices nationwide posted a slight uptick from the previous two weeks.

According to the U.S. Energy Information Administration, current U.S. on-highway diesel fuel prices are sitting at $4.545 per gallon, about 10 cents higher than a week ago. In comparison, AAA recorded its current daily diesel average at $4.502, about 5 cents more expensive than last week. While both organizations’ records for the week of Oct. 23 are a far cry from the lowest prices diesel fleets have seen this summer, they are still less than 2023’s highest national diesel cost of $4.63 in September and almost 80 cents cheaper than October 2022.

Several regions in the U.S. experienced the same diesel price increase over the past week as the nation at large, with the biggest jump of 25 cents coming from the Midwest. That increase was followed by the Rocky Mountain region, which experienced a diesel price increase of nine cents.

See also: Roeth: Diesel-powered trucks deserve a big thank you

While the West Coast region still has the most expensive diesel prices, both with and without California at $5.468 and $4.988 per gallon respectively, the area was one of the few to experience a drop in diesel prices from last week. While it still features the priciest fuel at $6.016 per gallon, even California’s diesel prices dropped as much as the nationwide average rose. Meanwhile, the Gulf Coast still offers the cheapest fuel at $4.186.

In contrast, gasoline prices across the U.S. are currently at $3.533 after dropping 4 cents from a week ago, EIA reported. This puts consumer and work truck fuel at 23.6 cents less than it was a year ago nationwide, with nearly every region experiencing a drop in gas prices the week of Oct. 23. The Gulf Coast is barely an exception with a gasoline price increase of $0.001, although it is still the most affordable place to buy gas at $3.041 per gallon.

Regionally, the most expensive gas stations are on the West Coast at $4.85 per gallon.

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