Diesel Edges Higher
Higher diesel prices last week are not indicative of the long term drop expected by the US EIA.
National Observations
- National diesel prices were up 2 cents a gallon last week. The increase comes after two consecutive weeks of price drops.
- This is likely a temporary blip, based on the US EIA's predictions for crude oil pricing. The latest EIA short-term energy outlook expects crude oil prices to keep dropping to an average of $61/barrel by the end of the year and drop further to an average of $59/barrel in 2026.
Regional Trends
| Region | Last Week | Weekly Change | |
|---|---|---|---|
| 🗽 East Coast | $3.525 | +$0.008 | |
| 🌾 Midwest | $3.429 | +$0.041 | |
| 🌞 Gulf Coast | $3.109 | +$0.012 | |
| 🏔️ Rocky Mountain | $3.481 | +$0.028 | |
| 🌅 West Coast (not CA) | $3.764 | +$0.019 | |
| 🏄♀️ California | $4.739 | -$0.029 |
Regional Observations
- The Midwest had the highest increase last week. Diesel rose 4.1 cents per gallon there, adding on almost the same as it lost the previous week.
- California saw a drop of almost 3 cents a gallon. Other states on the west coast were up an average of 1.9 cents per gallon.
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