U.S. diesel and gas prices decline following Memorial Day weekend

In the wake of Memorial Day weekend, diesel and gas prices saw moderate drops. The national average on-highway diesel price dropped 7 cents to $5.523, according to data released by the U.S. Energy Information Administration (EIA) on May 27. Gas prices dropped 2 cents to $4.475.

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.:

• Midwest: The biggest drop in diesel prices this week occurred in the Midwest for 13 cents to $5.623.
• Gulf Coast: Off the Gulf Coast, diesel prices dropped 8 cents to $5.045.
• Rocky Mountain: In the Rockies, diesel prices dropped 6 cents to $5.493.
• East Coast: Off the East Coast, diesel prices dropped 3 cents to $5.394.
• West Coast: Off the West Coast, diesel prices dropped 2 cents to $6.500. Without including California, diesel prices dropped 1 cent to $5.909.

According to AAA Motor Club (AAA), the current national diesel price average is $5.554. This is 3 cents higher than EIA’s current estimate and $2.02 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 $4.475, according to EIA, 2 cents lower than last week’s average. 

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

• Midwest: The biggest drop in gasoline prices this week occurred in the Midwest, by 5 cents to $4.352.
• West Coast: Gas prices dropped 4 cents to $5.569. Without including California, gas prices dropped 2 cents to $5.162.
• Rocky Mountain: In the Rockies, gas prices dropped 3 cents to $4.557.
• East Coast: Gas prices dropped 0.1 cents to $4.304.
• Gulf Coast: Off the Gulf Coast, gas prices rose 4 cents to $3.989.

According to AAA, the current national gasoline price average is $4.559. This is 8 cents higher than EIA’s current estimate and $1.40 higher than this time last year. 

In a recent press release, AAA said, “Current prices are close to what drivers were paying 4 years ago, when the national average on Memorial Day was $4.61. With gasoline demand on the rise and the prolonged closure of the Strait of Hormuz, pump prices are likely to remain elevated as the summer travel season gets underway.”