LITTLE ROCK, Ark. — The average price for a gallon of diesel in the U.S. is down again, marking three straight weeks of declines.
According to the Energy Information Administration (EIA), as of Jan. 8, the average price sat at $3.828 per gallon. That’s down from $3.876 per gallon on Jan. 1 and $3.914 per gallon on Dec. 25.
The highest prices are in California at $5.152, while the lowest can be found along the Gulf Coast at $3.531 per gallon.
In the Midwest, expect the average price to run $3.692 per gallon, while along the East Coast, the price sits just under $4 per gallon at $3.959.
GasBuddy reports that diesel prices will continue to fall incrementally from 2023 and peak at $4.13 per gallon in March 2024.
“The global refining picture continues to improve, providing more capacity and peace of mind that record-setting prices will stay away from the pump in 2024. I anticipate that we’ll still have some volatility, unexpected outages and disruptions, and potentially weather-related issues, but I do not expect it to lead to record prices. Offsetting OPEC+’s production cuts is contributing to the rise of U.S. oil production, which now stands at record levels. Combined with Canada, North American oil production could further stabilize countries that have decided to curb oil production,” GasBuddy’s head of petroleum analysis, Patrick De Haan, said.
