US Diesel Prices Top $6 Per Gallon for 1st Time in History – Report
A gasoline station that ran out of gas for sale displays an out of service sign on the pump on Tuesday, May 11, 2021, in Atlanta. Gasoline futures are ticking higher following a cyberextortion attempt on the Colonial Pipeline, a vital U.S. pipeline that carries fuel from the Gulf Coast to the Northeast.
The average price of diesel fuel in the United States has topped $6 per gallon for the first time in history, the fuel price tracking service GasBuddy said. «The national average price of diesel has climbed to $6.00 per gallon for the first time in history, according to GasBuddy, whose live, real-time data reflects key thresholds like this one first. It is a level diesel has never reached, and it comes less than a week after prices set a fresh all-time record of $5.85,» the service said in a statement. At $6 per gallon, diesel fuel in the US has risen in price by approximately $2.30 compared to last year, when the national average was around $3.70, the statement added. The price of diesel fuel directly affects the cost of goods, as it powers the agricultural machinery and heavy-duty vehicles used in supply chains.On February, the US launched a war that disrupted shipping through the Strait of Hormuz — which carried roughly one-fifth of global oil supply before the conflict.
US diesel inventories stand 13% below their five-year average at 106.3 million barrels.
