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Big reversal in DOE/EIA diesel price on back of broader market upswing

October 12, 2022

The increase in the weekly average retail diesel price published by the Department of Energy’s Energy Information Service rose by the third largest amount ever this week.

The benchmark used for most fuel surcharges was reported a day later than normal due to the Columbus Day holiday Monday. And its gain of 38.8 cents per gallon trails only two increases posted earlier this year at the start of the Russian invasion of Ukraine.

Increases of 74.5 cents per gallon and 40.1 cents per gallon were posted during the weeks of March 7 and March 14. On May 2, an increase of 34.9 cents per gallon was posted. The series of diesel prices from the EIA goes back to 1994.

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