U.S. Fuel Prices Hit One Month Long Steady Decline

Fuel pumps

ProMiles.com’s latest fuel report, published Nov. 28, highlighted a continued decline in fuel prices, marking the fourth consecutive week of this downward trend. According to ProMiles, the national average for a gallon of diesel now stands at $4.195, indicating a 7-cent reduction from the previous week.

ProMiles and the federal Energy Information Administration (EIA) both produce weekly reports, but a key distinction lies in their methodologies for calculating averages. While ProMiles directly sources data from thousands of truck stops, the EIA relies on surveys from 400 truck stops and convenience stores across the nation. Despite this difference, both reports offer the average diesel price for the preceding week.

Regionally, all areas experienced a decrease, with the Midwest witnessing the most substantial decline of 10.1 cents. The Gulf Coast, Rocky Mountain, West Coast without California, West Coast, and California regions all saw decreases ranging from 7 to 8.2 cents.

As of Nov. 27, the average U.S. price for a gallon of diesel reported by ProMiles.com was $4.195, reflecting a 7-cent decrease. Notable regional averages include the Midwest at $4.119 (down 10.1 cents), the Gulf Coast at $3.804 (down 8.1 cents), and the West Coast at $5.158 (down 7 cents).

AAA’s report on the same day noted a retail average U.S. diesel price of $4.229, down from $4.283 per gallon the previous week. Comparatively, a month ago, AAA reported $4.497 per gallon, and a year ago, the price was $5.228 per gallon. The highest recorded retail average U.S. diesel price was $5.816 per gallon on June 19, 2022.

EIA’s report showed a national decrease of 6.3 cents, bringing the diesel price to $4.146 per gallon. This marks a significant drop from the previous year, with the national average for the week being 99.5 cents less than it was one year ago. Regional variations include a 9.2-cent drop in the Midwest, an 8.1-cent decline in the West Coast less California region, and a 7.2-cent decrease in the West Coast region. The Central Atlantic saw the smallest change, with a drop of less than 1 cent in fuel pricing.



Source: Land Line