This week, diesel prices decided to channel their inner sloth, creeping up by an almost laughable tenth of a cent to $3.540 per gallon, according to the latest data from the U.S. Energy Information Administration (EIA). After last week’s feisty 4.8-cent hike, this barely-there increase feels like diesel saying, “I’m good right here, thanks.”
For fleet managers, logistics pros, and drivers glued to fuel updates, this week’s news might not be earth-shattering—but hey, sometimes boring is good.
Year-Over-Year Fuel Joy: Saving Cents Makes Sense
While this week’s change is less exciting than watching grass grow, diesel’s year-over-year numbers are where the real party’s at. Compared to this time last year, diesel prices are a cool 55.2 cents cheaper nationwide. That’s like finding a crumpled $20 in your jeans—except scaled up to fleet size.
Want specifics? Here are the regions leading the charge in diesel price drops:
- California: Down a massive 82.8 cents, making it the Cinderella story of high-priced states. Sure, it’s still the most expensive in the U.S. at $4.652 per gallon, but we’ll take progress where we can get it.
- Rocky Mountains: Down 69.7 cents, proving those high altitudes are good for more than just breathtaking views.
Fleet managers everywhere should be breathing a little easier (unless you’re driving through California—then just slightly easier).
Regional Report: Where Diesel’s Making Moves
Diesel prices may have flatlined nationally, but there’s plenty of action when you zoom in on the regional data. Let’s hit the highlights:
Gulf Coast: Budget-Friendly Champs
The Gulf Coast keeps its title as the cheapest diesel region, averaging $3.227 per gallon. Even with a 2.4-cent price jump—the biggest increase of the week—it’s still the MVP for cost-conscious drivers.
Rocky Mountains: Dropping Like It’s Hot
The Rocky Mountain region wins the prize for the steepest price drop, with a 1.9-cent decrease bringing diesel down to $3.431. If you’re hauling freight through the Rockies, consider this your fuel reprieve.
West Coast: High Price, Big Drop
The West Coast averages $4.164 per gallon, down 1.3 cents this week. California’s $4.652 per gallon still leads in sticker shock, but at least it’s down a hefty 82.8 cents year-over-year. Meanwhile, West Coast drivers outside California enjoy an average of $3.739 per gallon.
Midwest: Diesel Drama Queens
The Midwest saw a 1-cent dip to $3.521 after last week’s wild 6.5-cent hike. It’s like the region’s trying to keep everyone guessing.
East Coast: Calm and Consistent
The East Coast experienced a modest rise of four-tenths of a cent, settling at $3.597. New England broke away from the pack with a slight dip of three-tenths of a cent to $3.773.
Global Trends: Diesel’s Dance with Crude Oil
Diesel prices don’t just respond to what’s happening in the U.S.—they’re part of a global game, and China plays a starring role. As the world’s largest crude oil importer, China is projected to hit peak imports as early as next year. Why? A rapid shift toward electric vehicles and ongoing economic hurdles are cooling the country’s appetite for crude oil.
This global slowdown could trickle down to U.S. fuel prices, offering longer-term relief for diesel markets.
U.S. Fuel Inventory Shake-Up: Thanksgiving Surprise
Thanksgiving brought more than turkey this year—it also delivered a surprising rise in U.S. gasoline inventories. A 3.3-million-barrel jump pushed total gasoline inventories to 212.2 million barrels during one of the busiest travel weeks of the year.
Why does this matter for diesel? While gasoline and diesel markets don’t always follow the same trends, shifts in one fuel’s inventory can impact refinery operations, potentially affecting the other.
Winter is Coming: What it Means for Diesel
Winter is knocking, and the diesel market better brace itself. Severe storms in the Midwest and Northeast could spell trouble for logistics, disrupt supply chains, and boost heating fuel demand. All of these factors might nudge diesel prices higher in the coming weeks.
Fleet operators: This is your cue to prep for winter’s curveballs. Stock up on essentials, check your winter tires, and keep a thermos of hot coffee handy.
Gasoline Update: Diesel’s Quieter Sibling
While diesel prices napped, gasoline decided to keep things equally calm, sliding down by 1 cent to $3.034 per gallon. That’s 19.7 cents cheaper than last year—small potatoes compared to diesel’s 55.2-cent drop but still a win for drivers.
What’s Next for Diesel?
The EIA projects that increased refinery capacity in 2024 could help stabilize petroleum product prices, including diesel. Meanwhile, demand for diesel is expected to surpass 2023 levels in both 2024 and 2025. For fleet operators, this means staying vigilant and adaptable as fuel markets evolve.
Final Thoughts: When Stability Feels Like a Win
This week’s diesel price update might not make headlines, but sometimes a little stability is just what the industry needs. With prices holding steady and year-over-year savings stacking up, drivers and fleets have plenty of reasons to be optimistic.
But let’s not get too comfortable—fuel markets are as unpredictable as an open road. From winter weather to global oil trends, the factors shaping diesel prices are constantly shifting.
At Eclipse DOT, we’re here to keep you ahead of the game. Whether it’s fuel strategies, compliance, or just making sense of it all, we’ve got your back. Let’s keep those wheels turning—and the costs down. 
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