Is the Strait of Hormuz open or closed? And how long will any opening or closure last? The answers to these questions are the key to the diesel and gasoline price drops seen this week. 

As of June 23, the U.S. claims that the strait is open while Iran maintains that it’s closed. Supposedly, there was some ship traffic this weekend, which may be responsible for fuel prices continuing to drop despite alleged ceasefire violations and overarching uncertainty surrounding the situation. Considering the history of this conflict so far, more uncertainty likely lies ahead, especially now that President Trump is proposing future tolls if peace with Iran cannot be reached. 

The national average on-highway diesel price dropped 23 cents to $4.832, according to data released by the U.S. Energy Information Administration (EIA) on June 23. Gas prices dropped 14 cents to $3.914.

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.:

• West Coast: The biggest drop in diesel prices this week occurred along the West Coast for 27 cents to $5.809. Without including California, diesel prices fell 28 cents to $5.238.
• Midwest: Diesel prices dropped 26 cents to $4.751. 
• Gulf Coast: Along the Gulf Coast, diesel prices dropped 23 cents to $4.415.
• Rocky Mountain: In the Rockies, diesel prices dropped 22 cents to $4.795.
• East Coast: Diesel prices dropped 16 cents to $4.886.

According to AAA Motor Club (AAA), the current national diesel price average is $5 even. This is 17 cents higher than EIA’s current estimate and $1.321 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 $3.914, according to EIA, 14 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 26 cents to $3.845.
• West Coast: Along the West Coast, gas prices dropped 17 cents to $5.052. Without including California, gas prices fell 18 cents to $4.665.
• Midwest: In the Midwest, gas prices dropped 14 cents to $3.723.
• East Coast: Along the East Coast, gas prices dropped 14 cents to $3.777.
• Gulf Coast: Along the Gulf Coast, gas prices dropped 8 cents to $3.437. 

According to AAA, the current national gasoline price average is $3.926. This is 1 cent higher than EIA’s current estimate and 71 cents higher than this time last year. 

In a recent press release, AAA stated, “This marks nearly four straight weeks of declines. Crude oil prices are down as the U.S. and Iran reach a deal to reopen the Strait of Hormuz. Sliding gas prices come as millions of Americans prepare to travel for Independence Day in record numbers starting next weekend.”