Diesel prices across the U.S. have surged to their highest level in 10 months, following a 20-cent-per-gallon increase this week. According to the U.S. Energy Information Administration (EIA), the national average for on-highway diesel fuel hit $3.775 per gallon on June 23, a significant jump from the $3.571 recorded the previous week. Although diesel is now slightly more expensive than it was this time last year, analysts say drivers shouldn’t expect extreme, long-term price spikes.
This latest increase in diesel prices is largely attributed to rising global oil prices spurred by escalating conflict in the Middle East. Israel and Iran recently traded attacks, prompting fears of broader geopolitical instability. In response, oil markets reacted strongly, pushing up both diesel and gasoline prices at the pump.
Patrick De Haan, head of petroleum analysis at GasBuddy, noted that these price hikes mark the largest weekly diesel increase since August 2023. He also warned that if the U.S. continues military action in the region, prices may climb further. However, De Haan dismissed viral predictions of “apocalyptic spikes” in fuel prices, describing them as inaccurate. He projected a potential increase of another 10 to 20 cents for diesel and up to 20 cents for gasoline in the coming days, depending on how global events evolve.
Regional Breakdown of Diesel Prices
- Midwest: Diesel prices saw the sharpest increase this week, jumping 24 cents to $3.777 per gallon.
- Gulf Coast: Despite still being the cheapest region, prices rose 22.4 cents to $3.436 per gallon.
- East Coast: Prices increased by 16.9 cents to an average of $3.79, with the Lower Atlantic states seeing a 19.3-cent jump.
- West Coast: The region reached $4.458 per gallon, up 14.8 cents. Excluding California, the average is $4.082. In California alone, diesel prices rose 11.2 cents to $4.893.
- Rocky Mountain: Drivers are now paying $3.689 per gallon, up 14.1 cents.
Gasoline Prices Also on the Rise
While diesel experienced the biggest jump, gasoline prices also climbed nationwide. The national average for regular gas is now $3.213 per gallon, up 7.4 cents from the previous week. However, this still represents a 25.5-cent decrease compared to the same week in 2024.
- Gulf Coast: Gasoline rose 10.9 cents to $2.844—the lowest in the U.S.
- East Coast: The average increased by 8.9 cents to $3.072. New England saw the largest subregional jump of 12.3 cents.
- Rocky Mountain: Prices climbed 6.3 cents to $3.177.
- Midwest: Up 6.1 cents to $3.087.
- West Coast: A modest rise of 3.5 cents brought prices to $4.162. Excluding California, prices increased 5.5 cents to $3.855. In California, gas prices rose only 1.7 cents to $4.444.
Although the surge in diesel and gas prices is concerning, experts maintain a cautious outlook. Much depends on geopolitical developments, but for now, trucking fleets and everyday drivers alike should prepare for elevated fuel costs heading into summer.
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