The national average diesel price continued its decline, falling by 7 cents to $3.555 per gallon, according to data from the U.S. Energy Information Administration released on Sept. 9.
Since July 8, diesel, the primary fuel for trucking, has dropped by a total of 31 cents per gallon over a nine-week period.
Year-Over-Year Comparison The current average price is 98.5 cents lower than it was during the same week in 2023. The largest reductions have been seen in the West Coast (PADD5) and Rocky Mountain (PADD4) areas, where prices have decreased by $1.278 and $1.243, respectively.
Gasoline Update The national average gasoline price has dropped by 5.3 cents to $3.236 per gallon, making it 58.6 cents cheaper compared to this time last year.
Regional Overview:
East Coast (PADD 1): Diesel prices in this region fell by an average of 6.7 cents this week to $3.619 per gallon. The New England area (PADD 1A) experienced a 4.8-cent decrease, the Central Atlantic (PADD 1B) saw a 6.1-cent drop, and the Lower Atlantic (PADD 1C) led the region with the largest weekly decline of 7.2 cents.
Midwest (PADD 2): The Midwest recorded the sharpest price drop this week, with a decline of 8.5 cents, bringing the average to $3.528 per gallon. This drop is largely due to reduced agricultural fuel demand and steady refinery production, which has increased fuel availability in the area.
Gulf Coast (PADD 3): Diesel prices in the Gulf Coast region decreased by 7.5 cents to $3.190, continuing its trend as the region with the lowest diesel prices. The proximity to major refining operations contributes to this price stability, resulting in another significant weekly decline.
Rocky Mountain (PADD 4): Prices in the Rocky Mountain region had the smallest decrease, with a decline of 2.3 cents to $3.567. The region’s more stable supply and lower price volatility contributed to this smaller change compared to other areas.
West Coast (PADD 5): Prices in this region dropped by an average of 3.6 cents per gallon to $4.257. Year-over-year, the West Coast has seen a $1.278 decrease in prices. Excluding California, the rest of the West Coast saw a 5.9-cent decline, while California, which still has the highest diesel prices in the nation, saw only a 1-cent drop.
Forecast: On Sept. 9, Tropical Storm Francine intensified as it moved northward in the Gulf of Mexico, causing oil companies to evacuate workers and suspend some offshore crude production, as reported by Bloomberg News. The storm is expected to make landfall on Sept. 11 as a hurricane.
