Diesel prices averaged USD 2.15 per gallon in September, down 7.6% from August. On 30 September, the commodity traded at USD 2.14 per gallon, down 5.3% from 30 August.
Diesel prices were knocked by lower crude costs and a decline in the average crack spread—diesel’s premium over crude—to a three-year low. U.S. diesel demand was 1.2% below its ten-year average in September, while, in contrast, U.S. diesel output was 7.3% above its ten-year average.
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Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
---|---|---|---|---|---|---|---|---|
Diesel | 2.90 | 2.43 | 3.01 | 2.82 | 2.69 | 2.51 | - | - |