The U.S. average price per gallon of diesel fuel set an all-time high this week, according to the U.S. Energy Information Administration. Trucking’s main fuel rose 34.9 cents to $5.509—easily shattering the previous high of $5.25 per gallon on March 14 after Russia’s invasion of Ukraine.
The May 2 price spike represents the third straight weekly increase and comes in way above the surge of 5.9 cents to $5.16 per gallon reported by EIA last week.
Diesel is now $2.367 more expensive than it was a year ago.
Regionally, diesel skyrocketed almost 50 cents—49.2 cents—on the East Coast to $5.701, with the fuel rising more than 86 cents to $6.101 per gallon in New England alone.
The weekly price increases were not as pronounced elsewhere, as the next closest spike occurred in the Midwest, where trucking’s main fuel rose 34.2 cents to $5.329. No region was spared sharp price increases, however.
This was a FleetOwner breaking news story. A more in-depth version was published here.
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