U.S. Diesel Prices Climb to Record Levels as Inventories Hit Seasonal Lows Amid Supply Strains
Americans are dealing with higher fuel costs as diesel prices across the country surge to new heights.
The national average is now $5.88 a gallon as of September 5th.
That is the highest average AAA has on its books, above the June of 2022 peak,ย saysย AAA.
A week ago the average was $5.60 and year ago it was $3.71. Diesel is the fuel trucks use to move freight, so the jump hits shipping costs. Gasoline is still near $4.15.
September is when diesel demand usually rises, and Bloomberg is tying the latest spike to wars squeezing global supply.
EIA data show distillate stockpiles are thin for this time of year.
U.S. inventories were 104.2 million barrels in the week ending August 28th, down 10 percent from a year earlier.
East Coast tanks held 19.3 million barrels, down 33 percent from a year earlier.
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