Diesel Prices Dropping for the Last Eight Weeks
Diesel prices have dropped to a national average of $3.625 per gallon, showing an ongoing decrease in the fuel’s cost.
Prices continue to slowly and steadily fall for the trucking industry’s most common fuel source. On September 2nd, the national average cost of diesel dipped to $3.635, dropping 2.6 cents from the previous week. This is the 8th week in a row that the nation has seen decreasing fuel costs, totaling 24 cents a gallon less than two months ago.
The national average cost of diesel is also down 0.867% from last year. This is 86.7 cents cheaper per gallon.
This trend is also evident in gasoline. As of September 2nd, the national average cost of gasoline was down 51.8 cents, resting at $3.289 per gallon.
Average Diesel Price Changes Per Region
Out of the 5 PADD (Petroleum Administration for Defense District) regions, all saw prices drop in the last eight weeks except the West Coast (PADD 5). However, the West Coast region still has dropped overall in the last year. Here are some highlights from each region as recorded on September 2nd, 2024…
| 08/19/24 | 08/26/24 | 09/02/24 | Change From 1 Week Ago | Year Ago | |
| U.S. | 3.688 | 3.651 | 3.625 | -0.026 | -0.867 |
| East Coast (PADD1) | 3.757 | 3.725 | 3.686 | -0.039 | -0.788 |
| New England (PADD1A) | 4.019 | 3.969 | 3.919 | -0.050 | -0.548 |
| Central Atlantic (PADD1B) | 3.935 | 3.920 | 3.908 | -0.012 | -0.717 |
| Lower Atlantic (PADD1C) | 3.664 | 3.628 | 3.580 | -0.048 | -0.839 |
| Midwest (PADD2) | 3.674 | 3.627 | 3.613 | -0.014 | -0.770 |
| Gulf Coast (PADD3) | 3.355 | 3.317 | 3.265 | -0.052 | -0.906 |
| Rocky Mountain (PADD4) | 3.650 | 3.608 | 3.590 | -0.018 | -1.137 |
| West Coast (PADD5) | 4.294 | 4.272 | 4.293 | 0.021 | -1.097 |
| West Coast less California | 3.905 | 3.893 | 3.896 | 0.003 | -1.132 |
| California | 4.739 | 4.707 | 4.749 | 0.042 | -1.052 |
U.S. Energy Information Administration
- East Coast (PADD1): Costs dropped by 0.039% from a week ago and 0.788% in the last year. The current average is at $3.686.
- Midwest (PADD2): Costs dropped by 0.014% from a week ago and 0.77% in the last year. The current average is at $3.613.
- Gulf Coast (PADD3): Costs dropped by 0.052% from a week ago and 0.906% in the last year. The current average is at $3.265.
- Rocky Mountain (PADD4): Costs dropped by 0.018% from a week ago and 1.137% in the last year. The current average is at $3.59.
- West Coast (PADD5): Costs rose by 0.021% from a week ago and dropped by 1.097% in the last year. The current average is at $4.293.
Will Diesel Prices Continue to Drop?
While prices may continue to drop due to ongoing trends in domestic fuel demand and global oil markets, this is not set in stone. Supply chain dynamics and environmental regulations often cause variations in national and global costs. It is safe to expect regional variations moving forward.
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