Diesel Prices

Diesel prices averaged USD 2.11 per gallon in April, down 4.9% from March. On 30 April, the commodity traded at USD 2.02 per gallon, down 12.2% from 31 March.

The drop was because of a decline in crude costs. In contrast, the crack spread—diesel’s price premium over crude—rose slightly in April from March. Looking at available data, U.S. refiners utilized 88% of their capacity in April, the highest figure so far this year. The end of seasonal maintenance work helped boost the figure.