Diesel fuel retail prices per month in the U.S. 2022-2024

In October 2024, one gallon of diesel cost an average of 3.59 U.S. dollars in the United States. That was a slight increase compared to the previous month, which had seen prices fall to a 24-month low.

Impact of Russia-Ukraine war and current events on diesel prices

Diesel prices rose significantly in 2022 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.