Archive photo: Trucks at a Flying J fuel stop in Belgrade, Montana, September 28, 2005. Photo: born1945 / CC BY-SA 2.0. Cropped; adapted image under the same license.
GasBuddy’s national average retail diesel price fell to $5.998 a gallon Saturday, taking its U.S. reading below $6 for the first time since September.
The decline offers some relief for trucking companies, farmers and other businesses that depend on the fuel, after a surge in diesel costs added pressure to freight bills and inflation.
GasBuddy’s average had topped $6 on September 10 and reached a record $6.519 on September 22. Saturday’s reading was more than 50 cents below that peak.
Lower crude oil prices and softer seasonal demand are helping ease the pressure. Patrick De Haan, GasBuddy’s head of petroleum analysis, said demand typically weakens in autumn as driving slows and hurricane season winds down, reducing the risk of Gulf Coast refinery disruptions. Refinery maintenance is also largely finished by November, allowing production to recover, he said.
The drop follows months of supply strain as the U.S.-Israeli war against Iran disrupted oil supplies and Ukrainian attacks on Russian refineries hampered production.
A separate daily reading from AAA put the national diesel average at $6.0366 for November 14. That is a separate benchmark from GasBuddy’s $5.998 figure. Both are national averages, not a guarantee of the price at any individual pump.
JBizNews Desk | New York
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