Diesel Prices

Diesel prices averaged USD 2.27 per gallon in June, up 9.6% from May. On 30 June, the commodity traded at USD 2.31 per gallon, up 14.9% from 30 May.

The increase was largely due to costlier crude and to diesel’s price premium over crude widening slightly further to a four-month high. Like last month, investors favored refined over crude, believing the China-U.S. trade truce should aid fuel demand. Meanwhile, higher OPEC+ output is increasing crude inventories.