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National average diesel price rises for the third week, up by 43.3¢ since July 17. Diesel now 75.4¢ cheaper than the same period in 2022.
Based on Energy Information Administration data, the national diesel price has risen for the third consecutive week, marking an 11.2¢ increase to $4.239. Notably, the last instance of such a three-week surge was in October 2022. Since July 17, the price has skyrocketed by 43.3¢ per gallon, inclusive of a notable 22.2¢ leap on July 31. Current diesel rates sit 75.4¢ below the same timeframe in 2022.
All ten regions surveyed by EIA witnessed a price hike, with California's increase being the most pronounced at 18.1¢ and New England's being the least at 7.4¢. Parallelly, gasoline prices have climbed 7.1¢, averaging $3.828 per gallon, which is 21¢ lower year-on-year.
Source: Transport Topics/ EIA
The national average diesel price sees a dramatic increase, soaring by 22.2 cents to hit $4.127 per gallon.
Diesel prices surge 9.9¢ in a week, hitting $3.905 a gallon, marking the largest increase since March 2022.
Diesel prices see a significant decline due to weakening spot market differentials and reduced oil exports from Russia and Saudi Arabia. Amidst China's shrinking oil demand and economic challenges, the global oil market faces a period of uncertainty.
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