Diesel falls 17 cents nationwide as gasoline slips below $4

By Tom Whitfield

EIA data released Nov. 10 put national on-highway diesel at $6.127 a gallon, down 17 cents from the previous week. Gasoline slipped 16 cents to $3.995, below $4 for the first time since July.

That gives truck operators a modest weekly reduction in a major variable cost, but not a return to last year’s fuel budget: EIA put diesel $2.290 above its year-ago level and gasoline 94 cents higher. The retreat follows months of rising fuel costs.

Where the declines landed

All five EIA regions posted lower diesel prices. The Rocky Mountain region had the largest weekly decrease, while the West Coast still carried the highest average. Prices below are per gallon.

• Rocky Mountain: Diesel fell 24 cents to $6.206.
• Midwest: Diesel fell 20 cents to $6.201.
• Gulf Coast: Diesel fell 17 cents to $5.741.
• West Coast: Diesel fell 16 cents to $7.110. Excluding California, it fell 15 cents to $6.429.
• East Coast: Diesel fell 11 cents to $5.920.

Gasoline also fell in every region, with the Rocky Mountain recording the largest decrease.

• Rocky Mountain: Gasoline fell 27 cents to $3.946.
• Midwest: Gasoline fell 23 cents to $3.868.
• West Coast: Gasoline fell 19 cents to $5.110. Excluding California, it fell 19 cents to $4.584.
• Gulf Coast: Gasoline fell 16 cents to $3.841.
• East Coast: Gasoline fell 9 cents to $3.847.

AAA’s national diesel average was $6.157, 3 cents above EIA’s estimate and $2.418 higher than this time last year. AAA’s gasoline average was $3.979, 2 cents below EIA and 91 cents above a year earlier.

Why prices moved

The cause is not settled, and the timing should not be mistaken for proof of a single driver. Several possible factors sit behind the retreat.

The midterm election result was described as a “blue tsunami,” with Democrats taking back control of Congress. President Trump and Vice President JD Vance acknowledged that the Iran war and fuel prices played major roles in the election outcome.

Trump also leaned away this week from further violence with Iran. Negotiations “seem to be underway,” with Iran’s nuclear program and the Strait of Hormuz at the center.

There was some new movement in the Strait. The U.S. was allowing Iraq oil exports through it via a shipping lane near Oman. Attacks were still reportedly underway as of Nov. 8, leaving security risk unresolved while Iraqi barrels used the permitted route.

AAA supplied the clearest market link: “Gas prices have been going down for nearly two weeks, as crude oil has dipped back into the high $80-low $90 per barrel range. But pump prices remain the highest they’ve ever been during this time of year. Before 2026, the national average had never gone above $4 per gallon during the month of November.”

What does this change for carriers and shippers?

For carriers, the 17-cent national decline lowers fuel expense per gallon, but EIA’s $2.290 year-over-year increase keeps cost pressure above last year. The regional data sharpen the point: West Coast diesel averaged $7.110, compared with $5.741 on the Gulf Coast. Even without California, the West Coast sat at $6.429.

For shippers and forwarders, the move lowers the near-term fuel-cost benchmark. It does not establish lower linehaul rates, changed truck capacity or revised contracts, because EIA and AAA report fuel prices rather than freight-market terms. Any surcharge response depends on contract formulas not covered here. The practical result is marginal relief, not a broad freight reset.

The end-2026 test

Watch weekly EIA readings, current AAA averages, whether crude stays in the high-$80s to low-$90s per barrel range, and what happens to Iraq exports, Iran talks and attacks around the Strait.

Through end-2026, those signals will show whether this week’s 17-cent diesel drop becomes a sustained easing. Another decline would ease carrier costs, but diesel’s $2.290 year-over-year premium means the sector has not returned to last year’s cost base.