Diesel prices fall 17 cents but remain nearly $2 above last year

Diesel and gasoline prices fell again for the second week in a row, though overall averages remain well above retail fuel costs a year ago. The national average on-highway diesel price dropped 17 cents to $5.350, according to data released by the U.S. Energy Information Administration (EIA) on June 1. Gas prices dropped 17 cents to $4.305.

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 by 23 cents to $5.392.
• Rocky Mountain: In the Rockies, diesel prices dropped 16 cents to $5.331.
• East Coast: Along the East Coast, diesel prices dropped 16 cents to $5.237.
• Gulf Coast: Along the Gulf Coast, diesel prices dropped 15 cents to $4.900.
• West Coast: Along the West Coast, diesel prices dropped 10 cents to $6.398. Without including California, diesel prices dropped 8 cents to $5.832.

According to AAA Motor Club (AAA), the current national diesel price average is $5.432. This is 8 cents higher than EIA’s current estimate and $1.921 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 $4.305, according to EIA, 17 cents lower than last week’s average. 

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

• Rocky Mountain: The biggest drop in gasoline prices this week occurred in the Rockies for 23 cents to $4.329.
• Midwest: Gas prices dropped 22 cents to $4.135.
• Gulf Coast: Along the Gulf Coast, gas prices dropped 19 cents to $3.804. 
• East Coast: Gas prices dropped 17 cents to $4.135.
• West Coast: Along the West Coast, gas prices dropped 7 cents to $5.500. Without including California, gas prices dropped 8 cents to $5.080.

According to AAA, the current national gasoline price average is $4.290. This is 2 cents lower than EIA’s current estimate and $1.148 higher than this time last year. 

In a recent press release, AAA said, “Crude oil prices have been going down this week amid reports of peace talks with Iran. But the fragile situation could cause oil prices to spike again if a ceasefire deal isn’t reached. Gas prices remain the highest they’ve been in four years and will likely remain elevated as the busy summer driving season gets underway.”