US Diesel Prices Reach Record High of 5.820 per Gallon Amid Low Inventories

US diesel prices hit an all-time high of 5.820 per gallon on Thursday, surpassing the previous record of 5.819 set on June 17, 2022. This surge coincides with the lowest seasonal level of US distillate inventories ever recorded. Distillate stocks were approximately 14% below the five-year average as of the week ending August 28, 2026, marking the weakest August levels since 1982. East Coast inventories have also reached a record low. Refiners are operating at 98% utilization for the week ending August 28, and diesel crack spreads exceeded 100 per barrel. The diesel market is facing a significant shortage as September begins the peak-demand period. The Iran War Energy Cost Tracker estimates a consumer burden of 97.5 billion since February 28, translating to 743.99 per US household, with diesel contributing 44.14 billion and a 57.6% increase from the pre-war average of 3.670. Diesel prices have remained above 5 per gallon since July 15, with expectations of higher costs impacting consumers during the upcoming harvest season and winter heating demand. The next EIA inventory report is due on September 10.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.