Average diesel price in the US exceeds $6 per gallon for the first time
In the United States, the average price of diesel fuel exceeded $6 per gallon for the first time on Thursday. Over the year, diesel in the United States has risen by $2.30 per gallon.
Impact on transportation and goods
As OilPrice reports, citing the GasBuddy service, rising diesel costs are increasing expenses across supply chains. This may affect the cost of groceries, household goods, deliveries, and other products consumed by households, including those that do not use diesel vehicles.
Patrick De Haan, head of petroleum analysis at GasBuddy, said that record diesel prices will affect the cost of freight, shipments, and deliveries and may once again intensify inflation in supply chains.
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Seasonal demand and supply
The price surge occurred during a period of seasonal growth in diesel demand, when oil refineries undergo seasonal maintenance. The publication notes that the increase in diesel prices is not limited to the US market: in Europe, prices for this fuel exceeded €2 per liter.
According to OilPrice, EU governments continue to provide financial support to drivers in an effort to mitigate the effects of high prices. The publication links the tense diesel supply situation to the escalation of the war in the Middle East and Ukrainian drone strikes on Russian oil refineries. In OilPrice's view, global refining capacity is insufficient to offset supply losses from the Persian Gulf countries and the Russian Federation, the aggressor state, so diesel supply may remain limited.
