The national average price for diesel fuel has dipped by 1.1 cents, settling at $3.768 per gallon, as per the latest data released by the Energy Information Administration (EIA) on July 29.
Key Highlights
Weekly Trends
For the third consecutive week, the national average price for diesel has declined, accumulating a total drop of 9.7 cents over this period.
Year-Over-Year Comparison
Diesel now costs 35.9 cents less per gallon compared to the same time last year.
Regional Price Trends
Out of the ten regions in the EIA’s weekly survey, nine saw a decrease in diesel prices. The reductions ranged from 4.3 cents in California to a marginal drop of half a cent in the Midwest. The Gulf Coast region, however, saw a slight uptick of seven-tenths of a cent.
Gasoline Price Update
The national average price for gasoline saw a minor increase of 1.3 cents, bringing it to $3.484 per gallon. Despite this rise, gasoline is still 27.3 cents cheaper than it was at this time last year.
Analysis
This marks the third week in a row that diesel prices have decreased, with a total reduction of 9.7 cents. Compared to the same period last year, the national average price has fallen by 35.9 cents.
Regional Price Dynamics
East Coast (PADD1)
The East Coast region experienced a decrease of 2.8 cents, bringing the average price to $3.844 per gallon. This is 30.9 cents lower than the same period last year.
New England (PADD1A)
In New England, prices dropped slightly by 1.2 cents to $4.089 per gallon, which is 7.2 cents less than last year.
Central Atlantic (PADD1B)
The Central Atlantic region saw a more notable decline of 3.3 cents, with the average price now at $4.028 per gallon, reflecting a year-over-year decrease of 26.3 cents.
Lower Atlantic (PADD1C)
Diesel prices in the Lower Atlantic fell by 2.7 cents to $3.751 per gallon, a decrease of 35 cents compared to last year.
Midwest (PADD2)
The Midwest saw a minor reduction of half a cent, bringing the average price to $3.727 per gallon, 37.8 cents lower than the previous year.
Gulf Coast (PADD3)
Contrary to the general trend, the Gulf Coast experienced a slight increase of seven-tenths of a cent, with the average price now at $3.468 per gallon. Despite this weekly rise, the price remains 36.3 cents lower than it was in the same period last year.
Rocky Mountain (PADD4)
The Rocky Mountain region saw a decrease of 1.3 cents, bringing the price to $3.718 per gallon. This is a drop of 40.9 cents from the year-ago period.
West Coast (PADD5)
The West Coast experienced a reduction of 2.4 cents, bringing the price to $4.370 per gallon, 38.3 cents lower than last year.
West Coast Less California
This subregion saw a slight decrease of 0.9 cents, with prices now averaging $3.968 per gallon, a 43.3-cent decrease from the previous year.
California
In California, prices fell by 4.3 cents to $4.831 per gallon, which is 32.7 cents lower than last year.
Source: Transport Topics
