Trucking News · Nationwide · November 4, 2026

EIA Says the National Diesel Average Fell 6 Cents to $6.292 a Gallon, Only the Second Weekly Drop Since the Iran War Began, and Truckers Still Pay Far More Than Last Year

By Big Rig Daily Staff

The national average price of diesel fell by exactly six cents this week, from $6.352 to $6.292 a gallon, according to the Energy Information Administration (EIA) as reported by The Trucker. It is only the second decline since the end of February, when the Iran war began, the outlet says. FreightWaves reports the price was effective Monday and published Tuesday, Nov. 3, 2026, and calls it the benchmark used for most fuel surcharges.

The weekly numbers

Every EIA reporting region posted a decline. The California region had the largest drop, from $8.155 to $8.076, nearly eight cents. The EIA average is what many carriers use to set fuel surcharges, so even a small change can reach settlements, though the sources do not say by how much.

For where the price has been, see Big Rig Daily's earlier reports on diesel reaching $6.352 and diesel up 69% in a year.

What futures did

The retail price does not yet reflect Monday's moves, FreightWaves says. On Monday, futures prices fell sharply on hopes of peace talks. The December ultra low sulfur diesel (ULSD) contract settled at $4.4216 a gallon, which FreightWaves says is the lowest settlement since Oct. 6. Comparing the December contract over the two days, the drop was 25.45 cents a gallon. Brent crude fell 10.94% and West Texas Intermediate fell 7.36%.

On Tuesday, FreightWaves says a report that Iran and the U.S. were "far from a deal" pushed the market back up. At about 11:30 a.m., ULSD was up 8.94 cents, or just over 1%, at $4.5110 a gallon. The Trucker, citing the Associated Press, reported that Brent rose almost 2% to $106.50 a barrel early Tuesday after the U.S. attacked Iran's Qeshm Island, and that the U.S. benchmark rose 2% to $98.49 a barrel after falling about 8% to start the week.

The forecasts

FreightWaves says oil analyst Rory Johnston described a market that trades on headlines: while any one diplomatic hope is "very unlikely to amount to much," the market's base case remains that this ends via some kind of deal. On the same day, Goldman Sachs raised its December Brent forecast to $105 a barrel from $90, citing "high supply disruption risks."

What it means for truckers

A six-cent drop is real money on a large fill-up, but diesel is still about $6.29 a gallon. Big Rig Daily has no figure from these sources for how the retail price will move next week, and futures can reverse quickly.

Quick facts

• National average: $6.292 a gallon, down 6 cents from $6.352.
• California: $8.076, down from $8.155.
• December ULSD futures: settled Monday at $4.4216 a gallon, the lowest since Oct. 6, per FreightWaves.
• Direction: every EIA reporting region fell.
• Context: second weekly decline since the Iran war began, per The Trucker.

FAQ

What is the EIA diesel price?

It is the weekly retail average the Energy Information Administration publishes. FreightWaves says it is the benchmark used for most fuel surcharges.

Why did futures drop on Monday?

FreightWaves says oil fell on hopeful news about talks between the U.S., Israel and Iran.

Will diesel keep falling?

The sources do not say. FreightWaves notes things can quickly reverse if the prospect of peace proves fleeting.

A question for readers

Truckers, does a six-cent drop change how you plan your fuel stops, or are you waiting for a bigger move?

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