U.S. diesel futures jumped 5% on October 14, their highest level in weeks. This comes after President Trump struck a controversial deal with Russia that would supply the U.S. and global markets with more than 300,000 tons of diesel. This deal would include an additional 500,000 tons in November and 1 million tons “immediately thereafter.”

Both Republican and Democratic politicians have reacted negatively to this deal, claiming that it would offer little to no relief to Americans in addition to helping Vladimir Putin fund his war with Ukraine. 

“It’s kind of shuffling deck chairs on the Titanic,” said Michael Lynch of the Energy Policy Research Foundation, a non-partisan research institution focused on energy and economics. “If we get diesel from Russia, basically it means that their existing customers are not going to get it and they’ll have to go somewhere else, and that will keep the price basically where it is now.”

Dean Croke, principal analyst at DAT Freight & Analytics, told USA Today the amount of diesel from Russia wouldn’t be enough.

“In my opinion, there’s no impact, given it’s such a tiny amount in the big scheme of things,” Croke said. 

The national average on-highway diesel price dropped 2 cents to $6.179, according to data released by the U.S. Energy Information Administration (EIA) on October 14. Gas prices dropped 2 cents to $4.331. Compared to last year, diesel prices are up $2.514, and gas prices are up $1.270.

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.:

• East Coast: The biggest drop in diesel prices this week occurred along the East Coast for 4 cents to $5.908.
• Midwest: In the Midwest, diesel prices dropped 3 cents to $6.259.
• Gulf Coast: Along the Gulf Coast, diesel prices dropped 1 cent to $5.809.
• West Coast: Along the West Coast, diesel prices rose 1 cent to $7.240. Without including California, diesel prices rose 1 cent to $6.503.
• Rocky Mountain: In the Rockies, diesel prices rose 4 cents to $6.302.

According to AAA Motor Club (AAA), the current national diesel price average is $6.300. This is 12 cents higher than EIA’s current estimate and $2.642 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 $4.331, 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.:

• West Coast: The biggest drop in gasoline prices this week occurred along the West Coast for 9 cents to $5.639. Without including California, gas prices dropped 5 cents to $5.071.
• Gulf Coast: Along the Gulf Coast, gas prices dropped 6 cents to $3.851.
• East Coast: Along the East Coast, gas prices dropped 3 cents to $4.118.
• Rocky Mountain: In the Rockies, gas prices rose 2 cents to $4.439. 
• Midwest: In the Midwest, gas prices rose 4 cents to $4.145.

According to AAA, the current national gasoline price average is $4.333. This is 0.2 cents higher than EIA’s current estimate and $1.257 higher than this time last year. 

In a recent press release, AAA stated, “This is the first year the national average has been above $4 per gallon in October. After dipping into the $80 per barrel range for several days, crude oil is back above $90 per barrel. Hurricane Isaias is another factor that could affect gas prices if oil production and refineries in the region are impacted.”