As the Trump administration toyed with starting a trade war with Canada, China, and Mexico, the U.S. Energy Information Administration didn't report any significant price shifts the evening after the U.S. and its North American trade partners agreed to pause tariff threats. But pump prices remain higher than where commercial fleets might like them.
Currently, the U.S. on-highway diesel fuel average is $3.660 per gallon, up less than a cent from last week and down 23 cents from this time last year, EIA reported on February 3.
Across the country, prices shifted very little as well. In the Midwest, diesel fuel prices remained at $3.568 per gallon. Meanwhile, the Gulf Coast’s diesel costs increased by 1 cent to $3.395, as did the West Coast’s overall, which reached $4.289. Following these areas, the West Coast without California’s fuel costs increased by 3 cents to $3.857, and the Rocky Mountains rose 4 cents to $3.471 per gallon.
On the other hand, diesel prices dropped less than a cent in California to $4.787, and the East Coast’s pump prices fell 2 cents to $3.778. With these changes, the Gulf Coast is still the cheapest place to buy diesel at $3.395, while California is the most expensive at $4.787 per gallon.
Additionally, the EIA released its December numbers for the cost allocation of a gallon of diesel. With an assumed retail price of $3.49/gallon, which is 3 cents cheaper than the retail diesel price for November, the EIA found that the price percentage of distribution and marketing rose from 21% to 22%, while refining dropped from 14% to 13% in December. The resulting price breakdown per gallon came to a total of 59 cents for taxes (17%), 76 cents for distribution and marketing (22%), 45 cents for refining (13%), and $1.67 for crude oil (48%).
The AAA motor club‘s current diesel average is $3.655 per gallon, about 1 cent cheaper than the EIA’s findings. This number is 2 cents cheaper than last week’s average price of $3.672 and 28 cents cheaper than last year’s $3.937-per-gallon rate.
See also: Cold weather freezes gas, diesel prices at the pump
Gasoline average falls 2 cents per gallon
Gasoline price changes were also mixed across the country. The current average fell 2 cents from last week and 5 cents from last year to $3.082 per gallon. However, gas prices could shift more this week, with costs moving 1 to 8 cents depending on the region.
For example, gas prices per gallon dipped 2 cents in the Midwest to $2.919, while the East Coast’s dropped 5 cents to $3.019. Meanwhile, the Gulf Coast’s gas prices rose 1 cent to $2.709, and California’s jumped 3 cents to $4.253. Both the Rocky Mountain region and the West Coast overall gas prices increased by 4 cents to $2.967 and $3.924 per gallon, while the West Coast without California rose 5 cents to $3.565.
This week, the AAA gas average was very close to the EIA’s numbers at $3.098 per gallon, 3 cents lower than last week’s $3.122. According to the motor club, last year’s gas average was $3.150, so current prices are also 6 cents better in that regard.
“We are about halfway through winter, so there may be fewer seasonal spikes at the pump,” advised Andrew Gross, AAA spokesperson, who announced he is retiring this year.
