Gasoline Prices Start Month Climbing, Diesel Still Down
Diesel prices seemed to drop across the United States except on the Gulf Coast. Meanwhile, gasoline edged upward everywhere but the Rocky Mountain region.
Nationwide, the price of diesel fell to about $4.10 per gallon.
Image: Canva/EIA
Diesel saw continued lower prices this week across the United States, while gasoline costs jumped almost everywhere in the country.
The U.S. Energy Information Administration reported that gasoline averages about $3.50 per gallon across the nation. The average price of diesel fuel fell to about $4.10 per gallon. Despite the increases for gasoline, its price remains down compared to a year ago during the same week. Diesel also is still down compared to 2022 levels.
OPEC and its allies recently announced plans to cut oil production starting in May through the end of the year. That's expected to drive fuel costs up further.
Image: Canva/EIA
Current average fuel prices by region (gasoline/diesel):
East Coast: $3.36/$4.23
Midwest: $3.39/$3.95
Gulf Coast: $3.15/$3.89
Rocky Mountain: $3.46/$4.15
West Coast: $4.40/$4.72
Fuel prices may soon see impacts from OPEC and its allies decision to cut oil production by more than 1.6 million barrels a day starting next month through the end of 2023. Some experts worry the cut may trigger further inflationary issues.
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