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U.S. Average Retail Diesel Fuel Prices
US Diesel Sales Price (GASDESW)
Latest reading (week of Oct 5, 2026): $6.199. Record high: $6.529 (week of Sep 21, 2026). Key periods and drivers
2020 – Pandemic collapse
Prices started the year near $3 and fell sharply with the COVID-19 demand shock (freight, travel, and economic activity plunged). They bottomed near $2.37 in late 2020. Annual average was the lowest of the period at $2.55. ### 2021 – Recovery and rising demand
Prices climbed steadily as the economy reopened and goods demand recovered. Average rose to $3.29, still well below later peaks.
2022 – Sharp spike to then-record highs
Russia’s full-scale invasion of Ukraine in February triggered a major supply shock. Russia is a large exporter of diesel/gasoil; sanctions, trade disruptions, and low global distillate inventories drove prices sharply higher. The weekly high reached $5.810 in June 2022; the annual average hit $4.989 (previous record until 2026). Diesel’s premium over gasoline also widened significantly. 2023–2025 – Gradual decline and stabilization
Prices eased from the 2022 peak as markets adjusted, inventories improved somewhat, and crude oil moderated. Annual averages fell to $4.21 (2023), $3.76 (2024), and $3.66 (2025). Prices mostly traded in a relatively narrow $3.45–$4.10 range for much of 2024–2025.
2026 – New record surge
Prices started the year near the recent lows (~$3.46 in mid-January) but rose dramatically from March onward. By September they set successive new highs, peaking at $6.529 before easing slightly to $6.199 by early October. Year-to-date average is already $5.04—higher than any prior full-year average. Primary drivers of the 2026 spike (a refining/product shortage more than a pure crude shortage):
Prolonged disruption/closure effects in the Strait of Hormuz linked to Middle East conflict (U.S./Israel–Iran tensions beginning around late February). Russian diesel export restrictions/bans (and reduced output from Ukrainian strikes on Russian refineries). Very tight global distillate inventories, high U.S. refinery utilization (near 98% at times), and competition from high-margin jet fuel production. Resulting elevated diesel crack spreads (refining margins).
Overall pattern From the 2020 trough near $2.40 to the 2026 peak above $6.50, the series more than doubled at the extremes. The 2022 and especially 2026 episodes show how diesel—critical for trucking, agriculture, rail, and freight—is more sensitive than gasoline to refined-product supply shocks and geopolitical disruptions affecting Russia and the Middle East. Prices remain elevated relative to the 2020–2021 and 2024–2025 ranges as of early October 2026.
U.S. Import & Export Trade Balances
* Trade Balance: Goods and Services, Balance of Payments Basis (BOPGSTB)
* Import Price Index (End Use): All Commodities (IR)
In May 2026, U.S. import prices rose 1.9 percent following an increase of 2.0 percent in April. U.S. export prices advanced 1.3 percent in May, after rising 3.5 percent in April. Over the past 12 months, import prices increased 6.7 percent and export prices rose 11.2 percent.
Import fuels and lubricants prices increased 20.0 percent over the past 12 months. During the same period, prices for import petroleum and petroleum products rose 22.0 percent while the price of import natural gas ticked up 0.1 percent. Nonfuel import prices increased 2.9 percent on a 12-month basis, the largest over-the-year increase since October 2022. Higher prices for capital goods; nonfuel industrial supplies and materials; and consumer goods, excluding automotives more than offset lower prices for automotive vehicles, parts, and engines as well as for foods, feeds, and beverages from April 2025 to April 2026.
Prices for agricultural exports increased 4.3 percent over the past 12 months, as higher prices for soybeans and meat drove the over-the-year increase. Prices for nonagricultural exports increased 9.3 percent from April 2025 to April 2026. Higher prices for nonagricultural industrial supplies and materials; capital goods; and consumer goods, excluding automotives led the 12-month increase.
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U.S. Average Retail Gasoline Prices
U.S. Average Retail Gasoline Prices
Regular Gasoline Price … National Average (GASREGW)
Based on the most recent data from the U.S. Energy Information Administration (EIA), here’s an explanation of GASREGW (Regular Gasoline Price National Average):
What GASREGW Means
GASREGW is the official designation for tracking regular-grade gasoline prices across the United States
It represents a weighted average based on sampling from approximately 900 retail outlets
Prices are collected at 8:00 AM Monday each week
The price includes all taxes and represents self-service unless only full-service is available
Technical Specifications
Regular Gasoline must have an antiknock index (average of research octane rating and motor octane number) greater than or equal to 85 and less than 88
Octane requirements may vary by altitude
Prices are reported in dollars per gallon, not seasonally adjusted