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Diesel, gas prices on the rise before Independence Day

July 2, 2024
Diesel prices increased across every U.S. region this week, bringing the national average to $3.813 per gallon, according to government tracking.

Diesel and gas prices began to climb just before Independence Day this week. The U.S. Energy Information Administration found that average U.S. diesel prices reached $3.813 per gallon, 4 cents higher than last week and 4 cents higher than this time last year. This is EIA’s first year-over-year increase in diesel prices since May 6.

Every region saw prices rise, though regional diesel price increases ranged from less than a cent to over 6 cents this week. Prices rose most in the Midwest, increasing 0.067 cents to $3.729 per gallon. The smallest increase was in California, by 0.2 cents, to $4.915.

Only two regions had year-over-year price decreases: the West Coast without California had lost 7 cents, whereas the Rocky Mountain Region lost 20 cents.

Despite its slight increase, California remains the most expensive place to buy diesel at $4.915 per gallon, while the Gulf Coast is still the cheapest at $3.549.

See also: Where alt-fuel infrastructure stands today: hydrogen, RD and biodiesel, and natural gas

For comparison, AAA motor club’s national diesel average was $3.804 per gallon, about 1 cent lower than EIA’s estimate. The price was roughly 1 cent more expensive than last week’s AAA price of $3.792 but more than 5 cents cheaper than the previous year’s price of $3.858.

General rise in gasoline prices

Gas prices also increased, according to EIA, though less consistently. For the week of July 1, the average U.S. gas price is $3.479 per gallon, 4 cents more expensive than the previous week but also 4 cents cheaper than last year.

Prices increased for most regions, except for the West Coast and the West Coast without California. Prices for both regions decreased 3 cents to $4.236 and $3.912, respectively.

Like diesel, gasoline prices rose the most in the Midwest: The region saw the cost of gas rise 9 cents to $3.415 per gallon. Prices rose 5 cents in the Gulf Coast to $3.071, 5 cents in the Rocky Mountain region to $3.351, and 2 cents in the East Coast to $3.389. The Gulf Coast is still the cheapest place for gas at $3.071 per gallon, while California is still the most expensive at $4.533.

The AAA motor club’s national average price for gas is $3.491, roughly 1 cent higher than EIA’s estimate. The motor club’s average is roughly 4 cents more expensive than last week but more than 4 cents cheaper than this time last year.

About the Author

Jeremy Wolfe | Editor

Editor Jeremy Wolfe joined the FleetOwner team in February 2024. He graduated from the University of Wisconsin-Stevens Point with majors in English and Philosophy. He previously served as Editor for Endeavor Business Media's Water Group publications.

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