US Diesel Average Price Hits $6.06 per Gallon
The average price of diesel in the United States reached a historic high of $6.06 per gallon for the first time, surpassing previous peaks during the 2022 energy crisis.
The Association of American Auto Manufacturers reported that the average US diesel price hit $6.06 per gallon on Friday, marking the highest level ever recorded. This gallon contains approximately 3.785 liters, which translates to roughly $1.60 per liter. The record surpasses the peak observed during the global energy crisis in 2022. Multiple factors drove this increase, including ongoing conflict in the Middle East, rising oil prices, and Russian attacks on oil refineries in Ukraine. Because diesel fuel is essential for trucks transporting goods between states, ports, storage facilities, and retailers, as well as for agriculture, construction, industry, and rail transport, this jump threatens to raise shipping costs and disrupt supply chains. These developments are expected to add new inflationary pressure to the world's largest economy.
