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Diesel prices rise with July heat, reach $3.87/gal

July 9, 2024
Diesel prices rose for the fourth week in a row, with the EIA logging a 5-cent jump in the U.S. on-highway diesel price average from last week.

For the fourth week in a row, the average cost for diesel across the U.S. rose, this time by 5 cents from last week and last year, according to the U.S. Energy Information Administration (EIA).

As of the week of July 8, on average diesel was $3.865 per gallon, with all regions  increasing their prices save for parts of the West Coast. In general, prices rose from 1 to 7 cents across the country.

At the high end, the Midwest jumped 7 cents, the most in the country, reaching $3.803 per gallon. Prices rose 1 cent in the Central Atlantic sub-region to $4.087, and 3 cents along the East Coast to $4.934. If California is excluded, the West Coast region of Arizona, Nevada, Oregon, and Washington experienced the only price drop2 cents to $4.018. Califoria rose 4 cents to $4.955 per gallon, so the West Coast overall had a less-than-1 cent uptick.

The Gulf Coast nearly hit a 5-cent hike to $3.598 per gallon, while the Rocky Mountains increased 4 cents to $3.790 per gallon.

With all this said, the Gulf Coast is still the cheapest place to buy diesel fuel at $3.598 and California is the most expensive at $4.955 per gallon.

 In comparison, the AAA motor club‘s diesel price average is $3.844 for July 8, roughly 2 cents less expensive than the EIA’s findings. This price point is 4 cents more expensive than last week’s average of $3.804 per gallon and about the same as last year’s average.

Read more: Diesel prices end slide, jump 7 cents

Along with these price increases, how each diesel payment is divided among its root costs also shifted from April to May. Using a retail price of $3.82 per gallon, the EIA found that taxes on diesel went up 1% to account for 16% of diesel’s total costs at roughly 61 cents. The price allotment for distribution and marketing went up as well, now constituting 23% of the price of diesel at 87 cents. Refining costs dropped 5% to 46 cents, while the cost of crude oil stayed the same, consuming 50% of the cost for diesel at $1.91.

Gas prices rise for Rocky Mountains, East Coast

While diesel costs rose with some uniformity across the country, gas prices were hit the hardest along the East Coast. The U.S. average for regular gasoline prices rose 1 cent from last week to $3.489, and across the rest of the country, prices rose or fell within a range of less than a cent to 8 cents.

In particular, prices dropped 1 cent along the West Coast to reach $4.226 per gallon and along the Gulf Coast to reach $3.058. Meanwhile, the West Coast without California fell 2 cents to $3.888 per gallon, and the Midwest saw its gas costs drop 4 cents to $3.367.

On the other hand, prices rose 6 cents along the East Coast up to $3.450 per gallon and 8 cents for the Rocky Mountains, which reached $3.431. Despite this, the Gulf Coast is still the cheapest place for gasoline at $3.058 while California remains the most expensive at $4.535 per gallon.

In comparison, motor club found the U.S. gas price average to be a touch more expensive than the EIA at $3.506 per gallon, a rate 1 cent higher than last week’s. However, this price point is still 3 cents cheaper than this time last year.


This article was originally published on FleetOwner.com.

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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