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Trucking News · Nationwide ·

Diesel Drops Below $6 a Gallon Nationwide for the First Time in Two Months, to a $5.998 Average

A sleeper semi parked at a diesel island at a quiet truck stop in early evening light
Illustration for this story. Not a photo of a specific location.

Diesel slipped back under $6 a gallon on Saturday, a small drop on paper but the first time in two months that truck drivers and fleets have seen the national average below that line.

The number

The national average retail diesel price was $5.998 a gallon on Saturday, Nov. 14, according to the fuel price tracker GasBuddy, Reuters reported in a story also carried by TradingView.

That is only two-tenths of a cent under $6. Still, it ends a stretch of more than two months above that mark.

How diesel got here

Diesel rose to $5.820 a gallon on Sept. 3, which broke the record set after Russia's full-scale invasion of Ukraine in 2022, Reuters reported. It topped $6 on Sept. 10 and kept climbing, reaching a record $6.519 a gallon on Sept. 22.

In California, where refining capacity is limited and fuel rules are stricter than in most states, diesel briefly went over $10 a gallon.

Reuters said diesel had surged as the war with Iran disrupted oil supplies and as Ukraine's attacks on Russian refineries cut production.

Why prices are falling now

Several things are pushing prices down at the same time, according to the report:

Gasoline also fell below $4 a gallon this month for the first time since Aug. 10, according to GasBuddy data.

What it means at the pump

For a truck that burns a few hundred gallons a week, a fraction of a cent does not change much. The bigger story is the direction. Prices that were rising in September are now moving the other way. To see what the current price does to a trip budget, the truck fuel cost calculator works out the fuel bill for a given number of miles and miles per gallon.

Prices at any one truck stop can be higher or lower than the national average, and California remains well above it.

Quick facts

FAQ

What was the highest diesel price this year?

The national average hit a record $6.519 a gallon on Sept. 22, according to the Reuters report.

Why does crude oil matter so much for diesel?

Diesel is refined from crude oil, so its price closely follows crude. When crude falls, diesel usually follows after a short lag.

A question for readers

Has the drop under $6 shown up on the fuel receipt yet, or does every fill-up still feel like $6 a gallon?

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A sleeper semi parked at a diesel island at a quiet truck stop in early evening light

Sources