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Diesel takes another hit and may be driving down broader oil market

May 13, 2024

With the benchmark diesel price used for most fuel surcharges down for the fifth week in a row, diesel consumers should be reveling in the fact that market trends appear to have completely thrown out concerns about the Middle East conflict and are focused on the markets for both diesel and gasoline as primary drivers.

The Department of Energy/Energy Information Administration average weekly retail diesel price fell 4.6 cents Monday to $3.848 a gallon. The five consecutive declines have taken that price down 21.3 cents a gallon during, and the price is now at a level not seen since the end of January.

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