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Supply Chain Graphic of the Week: The Huge Spike in Diesel Prices



US Diesel Costs are much Higher than Gas Prices


May 5, 2022



We are all feeling the pain at the pump with soaring gasoline prices - but truckers and others using diesel fuel have it even worse.


According to the daily AAA survey, the average price for gas across the US was $4.22 on Wednesday. That is really high, but down  a bit from the all-time high of 4.33 on March 11.


Diesel costs a lot more per gallon, at $5.42 per gallon on Wednesday, reprenting a new record high, which has been happening almost every day recently. It was also up big from $2.46 a year ago


Below is a chart based on data from the US Energy Information administration showing average US diesel prices since the early 1990s:



After reaching a previous all-time high of around $4.80 per gallon in 2008, diesel fell to just $2.00 or so in 2010 and then again in 2015.


Then after a bit of a dip in 2020 during the start of the pandemic, it's been straight up from there to its current crazy levels, with some predicting more moves higher.


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