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Diesel prices reach $4.209 in fourth straight week of decreases

Nov. 21, 2023
In a slightly sharper decline than last week, the EIA reported that nationwide diesel prices dropped to $4.209.

The week of Nov. 20, the U.S. Energy Information Administration (EIA) saw the fourth week of decreased diesel prices since the end of October, with current diesel costs sitting at $4.209. This places nationwide on-highway fuel prices at 8 cents lower than a week ago, a slightly sharper drop than the week before, and nearly 25 cents lower than the end of October. With this decrease, prices also remain just over a dollar cheaper than they were at this time last year.

 

After several weeks of experiencing the most drastic fuel price change, the Rocky Mountain region did not see the largest fuel price cut. Instead, the Midwest took that honor after its prices slipped 10 cents from $4.308 to $4.207 per gallon. However, several other regions also saw significant cost cuts, with the Gulf Coast, Rocky Mountain, and West Coast without Calif. all dropping by 8 cents. Meanwhile, the East Coast saw the smallest diesel-pump decrease of the U.S. regions with a drop of only 6 cents, placing its cost per gallon at $4.155.

Read more: Fuel economy, maintenance driving shorter lifecycles, Fleet Advantage finds

As is often the case, the Gulf Coast remains the cheapest place to purchase diesel fuel at $3.841, although the nationwide average, as well as the East Coast and Midwest prices, are currently the most likely to break below $4 as well. The most expensive diesel in the nation is in Calif. at $5.640.

In comparison, the AAA motor club clocked its current diesel price average at $4.283, about 8 cents more expensive than EIA’s report. According to the AAA’s numbers, diesel prices dropped 6 cents from last week and over a dollar from Nov. 2022, when costs were at $5.307 per gallon.

Gasoline prices drop 6 cents the week of Nov. 20

Mirroring their diesel counterparts, the EIA reported that gas prices are down across the country, with a difference of 6 cents from a week ago and about 36 cents lower than last year. With the nationwide average at $3.289, the Rocky Mountain region experienced the biggest change of 14 cents, closely followed by the West Coast both with and without Calif. at a 10-cent difference.

AAA is also reporting fuel prices for consumer vehicles at a bit over $3 with an exact average at $3.308, 6 cents lower than the week before and nearly 40 cents cheaper than last year. According to the organization, this marks the 60th straight day in which the national gas average has fallen or remained flat.

“Drivers this Thanksgiving can expect cheaper gas prices,” said Andrew Gross, AAA spokesperson. “Ten states now have sub $3 a gallon averages, and more will join soon.”

By the AAA’s reckoning, these 10 states include Texas ($2.81), Mississippi ($2.82), Georgia ($2.84), Louisiana ($2.89), Oklahoma ($2.91), Alabama ($2.92), Arkansas ($2.93), Missouri ($2.96), South Carolina ($2.96) and Tennessee ($2.97). Meanwhile, the EIA reports that the Gulf Coast is the cheapest region in which to buy gas at $2.786, while the West Coast is the most expensive with or without Calif. at $4.417 and $4.033, respectively.

About the Author

Alex Keenan

Alex Keenan is an Associate Editor for Fleet Maintenance magazine. She has written on a variety of topics for the past several years and recently joined the transportation industry, reviewing content covering technician challenges and breaking industry news. She holds a bachelor's degree in English from Colorado State University in Fort Collins, Colorado. 

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