Diesel prices fall for most land fuel prices

For a second straight week, diesel prices fell across much of the country, according to the latest report from the Energy Information Administration.

The May 23 report showed the national average for a gallon of diesel is now $5,571, down from $5,613 a week ago.

Additionally, seven of the 10 regions saw a drop in price per gallon.

The Gulf Coast reported the largest decline at 7.9 cents per gallon. Prices fell 6 cents in New England and the Midwest by 5.3 cents.

Of the three regions that reported an increase, 3 cents in the Rockies was the highest. The California region increased by 2.5 cents, while the West Coast saw an increase of less than 1 cent.

At $5,216, the Gulf Coast has the lowest price per gallon.

The national average is currently $2,318 higher than it was a year ago.

Average US price of a gallon of diesel on May 23, as reported by the EIA:

  • United States – $5.571, down 4.2 cents.
  • East Coast – $5.905, down 3.9 cents.
  • New England – $6.371, down 6 cents.
  • Central Atlantic – $6.325, down 3.5 cents.
  • Lower Atlantic – $5.568, down 3.7 cents.
  • Midwest – $5.293, down 5.3 cents.
  • Gulf Coast – $5,216, down 7.9 cents.
  • Rocky Mountain – $5,498, up 3 cents.
  • West Coast – $6,081, up three-fifths of a cent.
  • West Coast minus California – $5,603, down 1.6 cents.
  • California – $6,502, up 2.5 cents.

ProMiles.com reports that the average US retail price per gallon for diesel fell four-fifths of a cent to $5,485, according to a May 23 report.

A key difference between the EIA and ProMiles reports is the type and number of gas stations the company studies in order to calculate its averages. As the EIA investigates 400 trucks
truck stops and convenience stores nationwide, ProMiles uses its direct feed of thousands of truck stops to develop its averages.

A majority of regions saw higher prices again this week. The biggest increase was 8.4 cents in New England. The next highest increases were 5 cents in the Central Atlantic and 4.9 cents in the Rocky Mountain region.

The national average as well as two regions reported a lower price per gallon than last week. The Gulf Coast average price fell four cents, while the Midwest region fell 2.9 cents.

Here are the average US prices for a gallon of diesel reported for each region on Monday, May 23 by ProMiles.com:

  • US – $5.485, down four-fifths of a cent.
  • East Coast – $5.867, up 2.5 cents.
  • New England – $6.374, up 8.4 cents.
  • Central Atlantic – $6.26, up 5 cents.
  • Lower Atlantic – $5,511, up a fifth of a cent.
  • Midwest – $5.255, down 2.9 cents.
  • Gulf Coast – $5,232, down 4 cents.
  • Rocky Mountain – $5.45, up 4.9 cents.
  • West Coast – $6,045, up 3.2 cents.
  • West Coast without California – $5,538, up 1.8 cents.
  • California – $6.442, up 2.5 cents.

Click on here to view ProMiles fuel data averaged by state.

AAA reported the average U.S. retail price per gallon of diesel at $5.554 for May 23.

A week ago, the average US retail price for a gallon of diesel was $5.566 per gallon.

A month ago, AAA reported $5.074 per gallon of diesel and a year ago $3.178 per gallon.

The highest recorded average U.S. diesel retail price was $5.577 per gallon on May 18, 2022, according to AAA. LL

Last week’s fuel report is here.