For the week ending March 11, the U.S. average diesel fuel price fell 1.8 cents, from the previous week, to $4.004 per gallon—24.3 cents below the same week last year. From the week ending February 19 to the week ending March 11, the U.S. average diesel price dropped 10.5 cents per gallon. The current diesel price is below $4 per gallon in the Midwest ($3.913), the Gulf Coast ($3.702) and the Rocky Mountain region ($3.992).
According to the Energy Information Administration’s (EIA’s) February Short-Term Energy Outlook, retail on-highway diesel prices per gallon are expected to average $4.01 in 2024—down 20 cents from 2023, but up 9 cents from EIA’s February forecast.