Average diesel fuel prices across the country continue to decline steadily.
According to the Energy Information Administration (EIA), the national average price as of May 13 was $3.848 per gallon. This marks a decrease from $3.894 per gallon on May 6 and $3.947 per gallon on April 29, showing a consistent downward trend.
The Rocky Mountain region is the only area in the country where prices have risen. In this region, the average price of diesel increased slightly to $3.791 per gallon as of May 13, up from $3.785 on May 6.
On the West Coast, diesel prices are notably higher, though they have still been steadily decreasing. The average price is now $4.551 per gallon, down from $4.580 on May 6 and $4.625 on April 29. This gradual decline provides some relief to drivers in this region, who typically face the highest fuel costs in the country.
In contrast, the Gulf Coast continues to enjoy the lowest average diesel prices in the nation. As of May 13, the average price there is $3.559 per gallon, down from $3.617 on May 6 and $3.657 on April 29. This region’s consistently lower prices are a significant advantage for local drivers and businesses.
On the East Coast, the average diesel price is $3.916 per gallon as of May 13. This represents a decrease from $3.966 per gallon on May 6 and $4.025 per gallon on April 29. The declining prices in this region are particularly beneficial for the heavy traffic and high transportation demands along the eastern seaboard.
Looking ahead, the EIA forecasts that diesel fuel prices will average $3.92 per gallon in the second quarter of 2024, $3.99 in the third quarter, $4.15 per gallon in the fourth quarter, and $4.18 per gallon in the first quarter of 2025. These projections, released earlier this year, suggest a gradual increase in prices over the next year, reflecting expected fluctuations in supply and demand.
Source: The Trucker
