U.S. diesel surged again over the last week, GasBuddy highlighted in a blog posted on its website on Monday.
The blog revealed that the national average price of diesel rose 30.7 cents in the last week and stood at $6.490 per gallon. The most common U.S. diesel price stood at $6.29 per gallon, “up 30 cents from last week”, according to the blog, which outlined that this was followed by $6.39, $5.99, $6.19, and $6.49.
The median U.S. diesel price was $6.39 per gallon, “up 30 cents from last week and about 10 cents lower than the national average”, the blog revealed. Diesel prices at the top 10 percent of stations in the country averaged $7.02 per gallon, while the bottom 10 percent averaged $5.83 per gallon, the blog noted.
The states with the lowest average diesel prices comprised Texas, at $5.96 per gallon, Louisiana, at $6.01 per gallon, and Oklahoma, at $6.02 per gallon, and the states with the highest average diesel prices comprised California, at $8.38 per gallon, Washington, at $7.37 per gallon, and Hawaii, at $6.95 per gallon, the blog pointed out.
GasBuddy’s blog outlined that the biggest weekly changes were seen in Ohio, which witnessed a 65.3 cent increase, Michigan, which saw a 64.6 cent increase, and Indiana, which saw a 63.6 cent rise.
According to the AAA Fuel Prices website, the average price of diesel in the U.S. is $6.5276 per gallon, as of September 22. This is the highest recorded average price of diesel in the U.S., the site showed.
Yesterday’s average diesel price was $6.5107 per gallon, the week ago average price was $6.2694 per gallon, the month ago average price was $5.5947 per gallon, and the year ago average price was $3.6880 per gallon, the AAA Fuel Prices site outlined.
Energy Crisis
In a market update sent to Rigzone late Monday, Rystad Energy highlighted that U.S. retail diesel had reached $6.50 per gallon, which it noted was “the highest level this year”.
“Central banks are responding to the inflationary consequences of the prolonged energy shock: the Federal Reserve last week raised interest rates for the first time since 2023, joining the European Central Bank and the Bank of Japan in tightening monetary policy,” Rystad said in the update.
Rystad’s update pointed out that the Trump-Xi summit on Thursday is the week’s “key event”, with markets “watching for any signal on Iranian oil sanctions and China’s role as a swing consumer”.
Claudio Galimberti, Rystad Energy Chief Economist, stated in the update that the central bank moves this week “are a rational response to an energy crisis that monetary policy cannot fix”.
“The Fed, the ECB, and the Bank of Japan are all signaling they will not let energy-driven inflation become embedded in wages and prices but raising rates adds a second restraint on growth through higher borrowing costs, bond yields, and eventually weaker corporate earnings and household demand,” he added.
“Brent at $100 and diesel at $6.50 a gallon are already squeezing consumers. The key question now is whether this energy shock remains primarily inflationary or starts tipping into something that resembles a slowdown,” he continued.
“The Trump-Xi summit on Thursday is the most important scheduled event for energy markets: any signal on secondary sanctions against Iran’s buyers, or on China’s willingness to act as a swing consumer, could shift the supply calculus materially,” he went on to state.
Diesel Export Ban
In a statement sent to Rigzone late Monday, the Texas Oil & Gas Association (TXOGA) highlighted that, during a G20 meeting in Houston, Texas, last week, U.S. Interior Secretary Doug Burgum said, “we would consider an export ban if we thought that actually might lower prices, but that’s not the case”.
TXOGA President Todd Staples said in the same statement that “banning exports of diesel would cripple domestic jobs, lead to fuel shortages here at home, and put power in the hands of China and Russia by forcing our allies to turn to those countries to meet their needs”.
“America’s energy leadership is needed now more than ever, and the best way to protect Texas and American consumers is to encourage continued investment in infrastructure which means more production, pipelines, processing, and refining,” he added.
“Global disruptions to the supply chain will eventually be resolved and Texas will emerge stronger and consumers better protected than ever. A ban today means a weaker America tomorrow and should be rejected by all Americans,” he continued.
White House Response
When Rigzone previously asked the White House for comment on a September 10 GasBuddy blog outlining that the average price of diesel in the U.S. had climbed to $6.00 per gallon for the first time in history, White House Spokeswoman Taylor Rogers told Rigzone, “President Trump remains committed to unleashing American energy dominance, cutting costs, and putting more money back in the pockets of hardworking American families”.
“Last week the president met with nearly a dozen refiners to discuss ways to expand our refining capacity, which will lower prices at the pump,” Rogers added.
“As the U.S. continues to maintain full control of the Strait of Hormuz, oil and gas prices will fall back to pre-conflict levels,” Rogers continued.
Rigzone previously contacted the American Petroleum and Convenience Store Association (APCA), American Fuel & Petrochemical Manufacturers (AFPM), and the Iranian Ministry of Foreign Affairs for comment on the White House statement.
An AFPM representative told Rigzone at the time, “U.S. refiners are running at maximum capacity to safely and responsibly produce gasoline, diesel, and jet fuel for the American public”.
“The industry has risen to the challenge of helping to stabilize global fuel supplies and will continue meeting U.S. consumer demand,” the representative added.
“We appreciate and welcome continuing conversations with the president and all policymakers about how to maintain a strong U.S. refining industry,” the AFPM representative continued.
The APCA and the Iranian Ministry of Foreign Affairs did not respond to Rigzone.
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