Diesel Drop Levels Off While Gasoline Prices Keep Rising

The price of gasoline rose about 7 cents more on average, while diesel saw a slight overall increase of nearly 2 cents nationwide as the cost seemed to start leveling off for school bus fleets across the country.

The U.S. Energy Information Administration reported that gasoline averaged about $3.66 per gallon across the nation. The average price of diesel fuel averaged around $4.12 per gallon. Both gasoline and diesel prices remain down compared to a year ago during the same week.

Where Things Stand With Fuel Prices This Week

Current average fuel prices by region (gasoline/diesel):

• East Coast: $3.51/$4.20
• Midwest: $3.59/$4.03
• Gulf Coast: $3.34/$3.88
• Rocky Mountain: $3.52/$4.10
• West Coast: $4.52/$4.69

What's Next for Fuel Prices?

“With oil prices touching their highest levels of 2023 at nearly $83 per barrel, the national average price of gasoline has continued to inch higher, with 45 of the nation’s 50 states seeing prices rise over the last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the rising price of oil is likely the largest factor in rising gas prices, the seasonal impacts continue to also exert pressure on prices.”

Northeastern states could see a sharp rise in gasoline prices during the next two weeks as that region transitions to summer gasoline.

“Oil prices remain a wild card, but we’re likely a few weeks away from seeing the national average peak,” De Haan said.

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