Diesel tops $5 nationally as gas inches closer to $4

The war against Iran continues to disrupt global oil distribution, raising diesel and gas prices at an astonishing pace. On-highway diesel pump prices topped $5 per gallon nationally for the first time since 2022. 

The national average on-highway diesel price jumped 21 cents to $5.07, according to data released by the U.S. Energy Information Administration (EIA) on March 17. Gas prices rose 22 cents to $3.72.

What are the current diesel prices across the U.S.?

Here are this week’s diesel price highlights from each region of the U.S.:

• Rocky Mountain: The biggest average increase in diesel prices this week was 40 cents, bringing the Rocky Mountain price to $4.796.
• Gulf Coast: Diesel prices rose 21 cents to $4.835.
• West Coast: Diesel prices rose 30 cents to $5.856. Without including California, diesel prices rose 27 cents to $5.36.
• East Coast: Diesel prices rose 20 cents to $5.105.
• Midwest: Diesel prices rose 17 cents to $4.97.

According to AAA Motor Club (AAA), the current national diesel price average is $5.04. This is 3 cents lower than EIA’s current estimate and $1.45 higher than this time last year.

What are the current gasoline prices across the U.S.?

The current national average on-highway gasoline price is $3.72, according to EIA, 22 cents higher than last week’s average.

Here are this week’s gasoline price highlights from each region of the U.S.:

• Rocky Mountain: The biggest increase in gasoline prices this week occurred in the Rockies, rising 38 cents to $3.637.
• Midwest: In the Midwest, gas prices rose 12 cents to $3.393.
• East Coast: Along the East Coast, gas prices rose 21 cents to $3.577.
• Gulf Coast: Along the Gulf Coast, gas prices rose 30 cents to $3.412.
• West Coast: Gas prices rose 30 cents to $4.987. Without including California, gas prices rose 30 cents to $4.521.

According to AAA, the current national gasoline price average is $3.79. This is 7 cents higher than EIA’s current estimate and 71 cents higher than this time last year.

In a recent press release, AAA stated: “Crude oil prices play a major role in what drivers pay at the pump, and prices have surpassed the $100/barrel mark multiple times in recent days. To help offset rising prices, the U.S. announced it will release 172 million barrels of oil from its strategic reserves over four months. The move is part of a broader effort by the International Energy Agency to release a total of 400 million barrels of oil, the largest emergency release in its history.”