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Diesel prices continue to drop, reach $4.209

Nov. 21, 2023
According to the EIA, diesel prices have dropped a total of 16 cents over two-and-a-half weeks.

Diesel prices decreased for the fourth week, falling to a national average of $4.209 per gallon on Nov. 20, according to the U.S. Energy Information Administration.

Nationwide, on-highway pump prices are 8 cents less than a week ago—a more significant drop than the week before—and nearly 25 cents lower than the end of October. With this decrease, prices remain just over a dollar cheaper than they were this week last year.

For several weeks, the Rocky Mountain region saw the most drastic fuel price drops. But this week, the Midwest took that honor after its prices fell 10 cents from $4.308 to $4.207 per gallon. Several other regions also saw significant cost cuts: the Gulf Coast, Rocky Mountain, and West Coast (without California) dropped by 8 cents. Meanwhile, the East Coast saw the slightest diesel-pump decrease of the significant U.S. regions, with a drop of only 6 cents, placing its cost per gallon average at $4.155.

Read more: 'So here we are': Truckers debate a post-gas-tax future

As is often the case, the Gulf Coast remains the cheapest place to purchase diesel fuel at $3.841 per gallon, although the nationwide average, as well as the East Coast and Midwest prices, are currently the most likely to break below $4. The most expensive diesel in the nation is in California at $5.640.

In comparison, the AAA motor club clocked its current diesel price average at $4.283, about 8 cents more expensive than EIA's report. According to the AAA, diesel prices dropped 6 cents from last week and over a dollar from November 2022, when costs were $5.307 per gallon.

Gasoline prices drop 6 cents the week of Nov. 20

Mirroring their diesel counterparts, the EIA reported that gas prices are down nationwide. Pump prices fell 6 cents this week and are about 36 cents lower than this week last year. With the nationwide average of $3.289, the Rocky Mountain region experienced the most significant drop of 14 cents, closely followed by the West Coast—with and without California prices—at a 10-cent difference.

AAA also reports fuel prices for consumer vehicles at a bit over $3 per gallon. The motor club's average national pump price is $3.308, 6 cents lower than last week and nearly 40 cents cheaper than last year. According to the organization, this marks the 60th straight day in which the national gas average has fallen or remained flat.

"Drivers this Thanksgiving can expect cheaper gas prices," said Andrew Gross, AAA spokesperson. "Ten states now have sub $3 a gallon averages, and more will join soon."

By the AAA's reckoning, these 10 states include Texas ($2.81), Mississippi ($2.82), Georgia ($2.84), Louisiana ($2.89), Oklahoma ($2.91), Alabama ($2.92), Arkansas ($2.93), Missouri ($2.96), South Carolina ($2.96) and Tennessee ($2.97). Meanwhile, the EIA reports that the Gulf Coast is the cheapest region to buy gas at $2.786 per gallon, while the West Coast is the most expensive with or without Calif. at $4.417 and $4.033, respectively.

About the Author

Alex Keenan

Alex Keenan is an associate editor for Endeavor's Commercial Vehicle Group, which includes FleetOwner magazine. She has written on a variety of topics for the past several years and recently joined the transportation industry, reviewing content covering technician challenges and breaking industry news. She holds a bachelor's degree in English from Colorado State University in Fort Collins, Colorado. 

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