Fuel Price Trends: January 2024 Analysis

Understanding fuel price trends helps you plan routes more efficiently and manage your operating costs. Here’s our January 2024 analysis.

Current National Averages

As of mid-January 2024:

National average diesel: $3.89/gallon
Highest region: California at $4.98/gallon
Lowest region: Gulf Coast at $3.52/gallon

Regional Breakdown

West Coast

California continues to have the highest diesel prices in the nation, driven by state taxes and environmental regulations. Consider fueling up before entering the state when possible.

Midwest

Prices remain relatively stable in the Midwest, making it a good region for fueling up on cross-country runs.

East Coast

Moderate prices with some variation. The Northeast tends to run about 15-20 cents higher than the Southeast.

Gulf Coast

Consistently the lowest prices due to proximity to refineries. If your route allows, this is the place to fill up.

Cost-Saving Strategies

1. Plan Your Fuel Stops

Use apps and fuel price trackers to identify the cheapest stations along your route. Even saving 10 cents per gallon adds up over a full tank.

2. Fuel Card Programs

Most major truck stops offer fuel discount programs:

Pilot Flying J’s myRewards Plus
Love’s My Love Rewards
TA Petro’s UltraOne

3. Timing Matters

Fuel prices often change mid-week. Tuesday and Wednesday tend to have slightly lower prices than weekends.

4. Idle Reduction

Reducing idle time saves significant fuel:

Use APUs for cab comfort
Plan stops at locations with amenities
Consider idle-reduction technologies

Looking Ahead

Industry analysts predict:

Prices likely to remain stable through Q1
Potential increases in spring as demand rises
Continued regional variation

Bottom Line

Smart fuel management can save thousands of dollars annually. Track your fuel costs, use available discounts, and plan your stops strategically.