Trucking companies and owner-operators received more welcome news this week as diesel prices continued their downward trend across the United States. According to the latest data from the U.S. Energy Information Administration (EIA), the national average price for on-highway diesel fell another 9 cents per gallon during the first week of July.
Even better, the EIA is forecasting that fuel prices could continue to decline in the months ahead as global oil supplies increase and international shipping routes return to normal operations.
Diesel Prices Continue to Fall Nationwide
The national average diesel price dropped from $4.668 per gallon on June 29 to $4.578 per gallon on July 6, providing additional savings for fleets and independent drivers who have been battling elevated operating costs.
Several regions saw significant decreases:
-
- Midwest: $4.458 per gallon (-12.5 cents)
- Rocky Mountain: $4.484 per gallon (-11.8 cents)
- California: $6.073 per gallon (-10.7 cents)
- West Coast: $5.425 per gallon (-10.3 cents)
- West Coast (excluding California): $4.864 per gallon (-9.8 cents)
- East Coast: $4.694 per gallon (-6.4 cents)
- Gulf Coast: $4.225 per gallon (-5.8 cents)
The Midwest experienced the largest weekly decline, with diesel prices dropping by more than 12 cents per gallon. Despite these recent reductions, diesel remains nearly 84 cents higher than it was one year ago.
Gasoline Prices Also Head Lower
Drivers of passenger vehicles are seeing savings at the pump as well.
The national average price for regular gasoline fell from $3.831 to $3.777 per gallon during the week. Some of the largest declines occurred in:
-
- West Coast (excluding California): -11.2 cents
- Midwest: -9.4 cents
- West Coast: -8.8 cents
- Rocky Mountain: -5.4 cents
- East Coast: -4.2 cents
The Gulf Coast was the only region to see an increase, with gasoline prices rising slightly to $3.343 per gallon.
EIA Forecast Points to More Fuel Savings Ahead
In its July 2026 Short-Term Energy Outlook, the EIA provided encouraging news for the transportation industry.
The agency expects global oil production to increase following the reopening of shipping through the Strait of Hormuz and improved international supply conditions. As more crude oil reaches the market, global inventories are expected to grow, helping push oil prices lower.
The EIA now projects Brent crude oil to average:
-
- $74 per barrel during the third quarter of 2026
- $65 per barrel in 2027
These projections are lower than previous forecasts and signal a potentially more affordable fuel environment for businesses and consumers alike.
Why Lower Oil Prices Matter
Crude oil prices are one of the biggest factors influencing diesel and gasoline costs. When oil prices decline, fuel prices often follow.
The EIA forecasts that:
-
- U.S. gasoline prices will average approximately $3.80 per gallon during the third quarter of 2026.
- Prices could fall to around $3.40 per gallon by the fourth quarter.
- The annual average gasoline price could drop below $3.10 per gallon in 2027.
Although the forecast focuses primarily on gasoline, diesel prices generally move in the same direction over time. If oil production continues to rise as expected, trucking companies could benefit from additional fuel-cost relief throughout the remainder of the year.
What This Means for the Trucking Industry
Fuel remains one of the largest expenses for trucking companies, fleets, and owner-operators. Every penny saved at the pump can significantly impact profitability, especially for drivers covering thousands of miles each month.
The recent string of diesel price declines, combined with the EIA’s optimistic outlook, offers a positive sign for the industry. Lower fuel costs can help improve margins, reduce operating expenses, and ease financial pressure on carriers navigating a competitive freight market.
While diesel prices are still higher than they were a year ago, the trend is moving in the right direction. If global oil production continues to recover and supply chains remain stable, truck drivers may see even greater savings in the months ahead.
As always, fuel markets can change quickly due to geopolitical events, weather disruptions, or supply interruptions. For now, however, the outlook suggests that relief at the pump may not be over yet.
Trucking companies and owner-operators received more welcome news this week as diesel prices continued their downward trend across the United States. According to the latest data from the U.S. Energy Information Administration (EIA), the national average price for on-highway diesel fell another 9 cents per gallon during the first week of July.
Even better, the EIA is forecasting that fuel prices could continue to decline in the months ahead as global oil supplies increase and international shipping routes return to normal operations.
Diesel Prices Continue to Fall Nationwide
The national average diesel price dropped from $4.668 per gallon on June 29 to $4.578 per gallon on July 6, providing additional savings for fleets and independent drivers who have been battling elevated operating costs.
Several regions saw significant decreases:
-
- Midwest: $4.458 per gallon (-12.5 cents)
- Rocky Mountain: $4.484 per gallon (-11.8 cents)
- California: $6.073 per gallon (-10.7 cents)
- West Coast: $5.425 per gallon (-10.3 cents)
- West Coast (excluding California): $4.864 per gallon (-9.8 cents)
- East Coast: $4.694 per gallon (-6.4 cents)
- Gulf Coast: $4.225 per gallon (-5.8 cents)
The Midwest experienced the largest weekly decline, with diesel prices dropping by more than 12 cents per gallon. Despite these recent reductions, diesel remains nearly 84 cents higher than it was one year ago.
Gasoline Prices Also Head Lower
Drivers of passenger vehicles are seeing savings at the pump as well.
The national average price for regular gasoline fell from $3.831 to $3.777 per gallon during the week. Some of the largest declines occurred in:
-
- West Coast (excluding California): -11.2 cents
- Midwest: -9.4 cents
- West Coast: -8.8 cents
- Rocky Mountain: -5.4 cents
- East Coast: -4.2 cents
The Gulf Coast was the only region to see an increase, with gasoline prices rising slightly to $3.343 per gallon.
EIA Forecast Points to More Fuel Savings Ahead
In its July 2026 Short-Term Energy Outlook, the EIA provided encouraging news for the transportation industry.
The agency expects global oil production to increase following the reopening of shipping through the Strait of Hormuz and improved international supply conditions. As more crude oil reaches the market, global inventories are expected to grow, helping push oil prices lower.
The EIA now projects Brent crude oil to average:
-
- $74 per barrel during the third quarter of 2026
- $65 per barrel in 2027
These projections are lower than previous forecasts and signal a potentially more affordable fuel environment for businesses and consumers alike.
Why Lower Oil Prices Matter
Crude oil prices are one of the biggest factors influencing diesel and gasoline costs. When oil prices decline, fuel prices often follow.
The EIA forecasts that:
-
- U.S. gasoline prices will average approximately $3.80 per gallon during the third quarter of 2026.
- Prices could fall to around $3.40 per gallon by the fourth quarter.
- The annual average gasoline price could drop below $3.10 per gallon in 2027.
Although the forecast focuses primarily on gasoline, diesel prices generally move in the same direction over time. If oil production continues to rise as expected, trucking companies could benefit from additional fuel-cost relief throughout the remainder of the year.
What This Means for the Trucking Industry
Fuel remains one of the largest expenses for trucking companies, fleets, and owner-operators. Every penny saved at the pump can significantly impact profitability, especially for drivers covering thousands of miles each month.
The recent string of diesel price declines, combined with the EIA’s optimistic outlook, offers a positive sign for the industry. Lower fuel costs can help improve margins, reduce operating expenses, and ease financial pressure on carriers navigating a competitive freight market.
While diesel prices are still higher than they were a year ago, the trend is moving in the right direction. If global oil production continues to recover and supply chains remain stable, truck drivers may see even greater savings in the months ahead.
As always, fuel markets can change quickly due to geopolitical events, weather disruptions, or supply interruptions. For now, however, the outlook suggests that relief at the pump may not be over yet.
