August 2023: Fleet Fuel Price Trends [Updated 08/30]

The cost to fuel diesel school buses rose across the board during the past week, with the average gallon of diesel running about $4.47 - up nearly 9 cents from the previous week. Gasoline, on the other hand, fell an average of 4 cents, except on the West Coast, where it was up by about a penny, according to the U.S. Energy Information Administration.

Here are the latest gasoline and diesel fuel statistics:

U.S. Regional Diesel Fuel Prices as of Aug. 28, 2023

• East Coast: $4.47
• Midwest: $4.38
• Gulf Coast: $4.17
• Rocky Mountain: $4.66
• West Coast: $5.30

U.S. Regional Gasoline Fuel Prices as of Aug. 28, 2023

• East Coast: $3.68
• Midwest: $3.64
• Gulf Coast: $3.38
• Rocky Mountain: $3.97
• West Coast: $4.88

Don't expect that gasoline price decline to extend much beyond Labor Day weekend, though. Patrick De Haan, head of petroleum analysis at GasBuddy, cited Hurricane Idalia and some refinery issues as likely triggers for rising prices in the weeks ahead: "However, the drop may be short-lived, as one of the nation's largest refineries partially shut last week after a fire at a storage tank, and as we see more tropical activity that could lead to further disruption."

The average price for a gallon of gasoline rose about 2 cents across the United States during the past week, while diesel prices for school transportation fleets showed signs of leveling off, increasing just a little more than a penny, according to the U.S. Energy Information Administration.

Here are the latest gasoline and diesel fuel statistics:

U.S. Regional Diesel Fuel Prices as of Aug. 21, 2023

• East Coast: $4.42
• Midwest: $4.30
• Gulf Coast: $4.09
• Rocky Mountain: $4.50
• West Coast: $5.14

U.S. Regional Gasoline Fuel Prices as of Aug. 21, 2023

• East Coast: $3.73
• Midwest: $3.72
• Gulf Coast: $3.46
• Rocky Mountain: $4.04
• West Coast: $4.87

The average price for a gallon of diesel gas for school transportation fleets across the country went up again last week, but remained below last year's cost levels. Gasoline saw some decreases, but in some places where the cost climbed, it exceeded the pump price during the same period in 2022, according to the U.S. Energy Information Administration. However, on average, gasoline remained about 9 cents lower than 2022.

Across the board, diesel jumped about 14 cents per gallon, while the average price of gasoline was up more than 2 cents. It dropped about 3 cents overall on the East Coast, but rose by 9 cents in the Midwest, 7 cents on the West Coast, and 1 cent in the Rocky Mountain region.

Here are the latest gasoline and diesel fuel statistics:

U.S. Regional Diesel Fuel Prices as of Aug. 14, 2023

• East Coast: $4.40
• Midwest: $4.32
• Gulf Coast: $4.09
• Rocky Mountain: $4.39
• West Coast: $5.09

U.S. Regional Gasoline Fuel Prices as of Aug. 14, 2023

• East Coast: $3.71
• Midwest: $3.77
• Gulf Coast: $3.41
• Rocky Mountain: $3.95
• West Coast: $4.76

The approach of the Labor Day holiday could see costs go even higher.

"Gasoline prices stand just over a dime away from rising back above their year-ago level—something that is definitely possible by the closing summer holiday," said Patrick De Haan, head of petroleum analysis at GasBuddy "In addition, the largest refinery in the Midwest moved up its seasonal maintenance to several weeks earlier than expected, causing a somewhat unexpected jump at the pump in the Great Lakes. Motorists will likely see a mixed bag at the pump this week, with a few states seeing prices fall slightly, while others will see the opposite.”

The cost of fuel for school transportation fleets kept climbing over the past week, but not as steeply as the end of July. The U.S. Energy Information Administration reported that gasoline rose about 7 cents per gallon on average across the country, while diesel shifted up by 11 cents.

Here are the latest gasoline and diesel fuel statistics:

U.S. Regional Diesel Fuel Prices as of Aug. 7, 2023

• East Coast: $4.25
• Midwest: $4.19
• Gulf Coast: $3.96
• Rocky Mountain: $4.29
• West Coast: $4.91

U.S. Regional Gasoline Fuel Prices as of Aug. 7, 2023

• East Coast: $3.74
• Midwest: $3.68
• Gulf Coast: $3.45
• Rocky Mountain: $3.94
• West Coast: $4.68

“Average gasoline prices continued to move up last week thanks to a continued rise in oil and continued pressure from hot weather that impacted refineries," wrote Patrick De Haan, head of petroleum analysis at GasBuddy. "However, the pace of increases has started to slow down over the last few days, and for now, appears to have hit a peak over the weekend and is beginning to gently fall. The price of diesel, however, continues to rise at a fairly strong pace, with average prices up nearly 15 cents per gallon from a week ago. Diesel will likely continue to see upward momentum while gasoline price increases should become more limited. But, with oil remaining under pressure from Saudi Arabia extending its 1 million barrel per day production cut into September, the respite from gasoline rising may not last long. Plus, there remain unknowns about hurricane season that will likely become more active in the weeks ahead.”

Heat-related outages at refineries are blamed for spikes in gasoline and diesel prices during the last week of July. According to the U.S. Energy Information Administration, the average price for a gallon of gasoline climbed 16 cents across the United States, while diesel jumped 22 cents on average.

Here are the latest gasoline and diesel fuel statistics:

U.S. Regional Diesel Fuel Prices as of July 31, 2023

• East Coast: $4.15
• Midwest: $4.10
• Gulf Coast: $3.83
• Rocky Mountain: $4.13
• West Coast: $4.75

U.S. Regional Gasoline Fuel Prices as of July 31, 2023

• East Coast: $3.65
• Midwest: $3.61
• Gulf Coast: $3.42
• Rocky Mountain: $3.87
• West Coast: $4.62

"Gas prices suddenly soared over the last week due to heat-related refinery outages that impacted some of the largest refineries in the country, at a time when summer gasoline demand peaks and as gasoline inventories slid to their lowest July level since 2015," wrote Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition, oil prices surged to their highest level in months, rising to over $80 per barrel due to SPR releases coming to an end and concerns over cuts in supply from Saudi Arabia and Russia, the second and third largest oil producers in the world. Motorists have seen average gasoline and diesel prices rise at the fastest pace in over a year, but the rise seen in the last week should now start slowing. However, as we get ever closer to the peak of hurricane season, any new issues could easily push the national average over $4 per gallon for the first time in 2023. Drivers may want to brace for potentially higher prices yet.”