Diesel fuel retail prices per month in the U.S. 2022-2024
In April 2024, one gallon of diesel cost an average of four U.S. dollars in the United States. That was a decrease compared to the previous month and also lower than the same month the year prior.
Impact of Russia-Ukraine war and current events on diesel prices
Diesel prices rose significantly throughout the last two years due to supply constraints in the wake of the Russia-Ukraine war and transportation issues related to low water levels on the Mississippi river. Global supply constraints also resulted in the West Texas Intermediate price trading at decade highs.
Diesel and gasoline price development
The usage of distillate fuel oil began in the 1930s, but until further development in the 1960s, diesel vehicles were mostly applied to commercial use only. In the U.S., diesel-powered cars remain a fairly small portion of the automobile market and diesel consumption is far lower than gasoline consumption. In general, gasoline also tends to be more widely available than diesel fuel and usually sells for a lower retail price. However, diesel engines have better fuel economy than gasoline engines, and, as such, tend to be used for large commercial vehicles.