Amidst a looming trade war, diesel and gasoline prices rose across every region of the U.S. this week. According to data released by the U.S. Energy Information Administration on April 7, the national average on-highway diesel price increased by 8 cents to $3.243, a substantial jump from recent weeks. Gas prices rose 5 cents to $3.639.
What are the current diesel prices across the U.S?
Here are this week’s diesel price highlights from each region of the U.S.:
- Midwest: The largest jump in diesel prices this week occurred in the Midwest. Diesel prices in the flyover states rose by 6 cents to $3.579.
- West Coast: Diesel prices also rose by 6 cents off the West Coast to $4.318. Without including California, diesel prices off the coast increased by 7 cents to $3.876.
- Gulf Coast: Another increase of 6 cents occurred off the Gulf Coast to $3.338.
- Rocky Mountain: Diesel prices in the Rockies rose by 3 cents to $3.499.
- East Coast: The smallest jump in diesel prices was seen off the East Coast, where prices rose by 2 cents to $3.713.
According to AAA Motor Club, the current national diesel price average is $3.629. This is 1 cent lower than EIA’s current estimate and 42 cents lower than this time last year.
See also: Rising diesel and gas prices: What you need to know
What are the current gasoline prices across the U.S.?
The current national average on-highway gasoline price is $3.243, according to EIA, 8 cents higher than last week’s average.
Here are this week’s gasoline price highlights from each region of the U.S.:
- West Coast: The highest jump in gas prices this week was off the West Coast by 14 cents, up to $4.320. Without considering California, prices rose by 13 cents to $3.869.
- Gulf Coast: The next highest increase of 11 cents to $2.841 was seen off the Gulf Coast.
- East Coast: Gas prices off the East Coast rose 9 cents to $3.079.
- Rocky Mountain: In the Rockies, gas prices rose by 5 cents to $3.165.
- Midwest: Gas prices increased by 3 cents in the Midwest to $3.103.
According to AAA, the current national gasoline price average is $3.246. This is 0.3 cents higher than EIA’s current estimate and 35 cents lower than this time last year.
What’s going on with diesel and gas prices?
EIA reports that crude oil inventories increased by 6.2 million barrels from the previous week. At 439.8 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
“This week, we had a build in crude oil inventories, a pretty significant one at that at about 6 million barrels per day,” Matt Muenster, chief economist at Breakthrough, said. “But generally, what influences crude oil inventories considerably is international economic growth, which today, the expectations for international economic growth … the brakes have been slammed on those after tariffs, and so crude oil prices are down dramatically.”
Muenster said that while diesel and gas prices are up currently, they’re still lower than this time last year. He claims that diesel and gas prices are tied closely to crude oil prices, and lower crude oil prices are helping diesel and gas prices stay lower than in 2024. But with summer approaching, we should expect to see some seasonal increases in gas and diesel.
Tariffs also pose a significant concern when it comes to crude oil and diesel and gas prices.
“The immediate response [to tariffs] from the market today: Crude oil and diesel price are down considerably. Making a comparison, we have to go back to October of 2023 to find a date in which prices slump by this magnitude. Coincidentally, at that time, the market was really focused on the potential of a recession in 2024, and I think that's relatively where sentiments have gone with the tariff announcement. We’re already seeing sentiment deteriorate for economic performance in 2025 mostly regarded to uncertainty around tariffs.”
