Diesel prices rise again with Middle East conflicts

The nation’s diesel price rose 18 cents over the last week, averaging $5.313 per gallon. Conflicts involving Iran and Yemen are hurting major oil routes.

Key takeaways

  • Diesel prices increased by 18 cents last week, averaging $5.313 per gallon nationwide.
  • Gasoline prices rose by 10 cents, with the national average now at $4.096 per gallon.
  • Rising crude oil prices, driven by Middle East conflicts and regional instability, are the main factors behind recent fuel price increases.

Diesel prices rose again last week. The national average on-highway diesel price rose 18 cents to $5.313 per gallon, according to data released by the U.S. Energy Information Administration (EIA) on July 27. Gas prices rose 10 cents. Compared to a year ago, diesel prices are up $1.51, and gas prices are up $0.97.

In addition to America’s painful slog through the Iran War and its disruptions to the Strait of Hormuz, conflicts spilled into the world’s other major oil trade route: the Red Sea. Yemen’s Houthis declared a blockade against Saudi Arabian oil exports through the Bab-el-Mandeb chokepoint.

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

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

  • Midwest: The biggest increase in diesel prices this week occurred in the Midwest, by 21 cents to $5.196
  • Rocky Mountain: In the Rockies, diesel prices also rose 21 cents to $5.141.
  • West Coast: Along the West Coast, diesel prices rose 19 cents to $6.067. Without including California, diesel prices rose 18 cents to $5.545.
  • East Coast: Diesel prices rose 16 cents to $5.354.
  • Gulf Coast: Along the Gulf Coast, diesel prices rose 15 cents to $5.087.

According to AAA Motor Club (AAA), the current national diesel price average is $5.321. This is 8 cents higher than EIA’s latest estimate and $1.59 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 $4.096 per gallon, according to EIA, 10 cents more than last week’s average.

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

  • West Coast: The biggest increase in gas prices this week occurred along the West Coast, rising 13 cents to $5.117. Without including California, gas prices rose 12 cents to $4.662.
  • Rocky Mountain: In the Rockies, gas prices rose 13 cents to $4.083.
  • Gulf Coast: Along the Gulf Coast, gas prices rose 10 cents to $3.69.
  • Midwest: In the Midwest, gas prices rose 10 cents to $3.882.
  • East Coast: Along the East Coast, gas prices rose 7 cents to $3.997.
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expensive verdict concept photo

According to AAA, the current national gasoline price average is $4.099. This is 0.3 cents higher than EIA’s latest estimate and $0.856 higher than this time last year.

In a recent press release, AAA stated, “Rising crude oil prices are behind the spike at the pump. Volatility along the Strait of Hormuz and instability in the region have pushed crude oil prices into the $90 per barrel range and could continue driving up costs during the second half of summer.”

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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