New York: Diesel prices in the United States have surged to a fresh all-time high, fuelled by rising crude oil prices and constrained refining capacity, putting renewed pressure on American motorists and the wider economy.
According to data from fuel savings platform GasBuddy, the national average retail price of diesel climbed to $5.820 a gallon on Thursday afternoon, narrowly surpassing the previous record of $5.819 a gallon, set in June 2022.
The sharp rise comes as crude oil prices continue to strengthen. West Texas Intermediate crude for October delivery on the New York Mercantile Exchange gained 28 cents, or 0.32 per cent, to close at $91.30 a barrel on Thursday.
Patrick De Haan, GasBuddy’s Head of Petroleum Analysis, said the US national average diesel price could move above its 2022 levels during 2026, highlighting the mounting pressure on fuel markets.
The outlook for petrol prices is also worsening. GasBuddy’s latest forecast indicates that the national average petrol price could climb to $4.03 a gallon during this year’s Labour Day weekend.
That would be 87 cents higher than the 2025 level and would break the previous Labour Day record of $3.83 a gallon, recorded in 2012. If the forecast materialises, it would mark the highest petrol price ever recorded for the US holiday weekend.
