Diesel prices averaged USD 2.65 per gallon in March, down 3.4% from February. On 29 March, the commodity traded at USD 2.62 per gallon, down 1.9% from 29 February.
Both U.S. diesel output and refinery capacity rose to the highest levels since early 2024 in March, in turn boosting U.S. diesel stocks relative to seasonal averages. That said, the cost of diesel’s main ingredient, crude, jumped; the crack spread—the price premium of diesel over crude—fell to the lowest level since June.
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Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
---|---|---|---|---|---|---|---|---|
Diesel | - | - | - | - | - | 3.93 | 3.52 | 3.45 |