The US national average retail price of diesel reached a new record high on Thursday as crude oil prices rebounded and the country’s refining sector faced capacity constraints.
The average diesel price rose to $5.820 per gallon on Thursday afternoon, surpassing the previous record of $5.819 per gallon set in June 2022, according to data from fuel savings platform GasBuddy, reports AP.
West Texas Intermediate (WTI) crude oil for October delivery gained 28 cents, or 0.32 per cent, to settle at $91.30 a barrel on the New York Mercantile Exchange on Thursday.
Patrick De Haan, head of petroleum analysis at GasBuddy, said the US national average diesel price in 2026 could exceed the record levels seen in 2022.
Meanwhile, the average US petrol price during the upcoming Labor Day holiday weekend is forecast to reach $4.03 per gallon, according to GasBuddy’s latest projection.
The expected price would be 87 cents higher than the same period in 2025 and would mark the highest Labor Day fuel price on record in nominal terms, surpassing the previous record of $3.83 per gallon set in 2012.
