USDA Grain Transportation Report (7/27): Diesel Price Surges by 9.9 Cents

This article is taken form the July 27 USDA Grain Transportation Report

After no change in the diesel price last week, for the week ending July 24, the U.S. average diesel fuel price rose 9.9 cents per gallon to $3.905 per gallon.

This is the largest week-to-week increase since October 2022.

The rise in diesel price was responding to the crude oil price’s recent rise to $83.64 per gallon (the highest since April 19), as oil exports from Russia have declined over the past month and, from Saudi Arabia, for the last few months (according to the data, which is available only through May).

The average diesel price is still 136.3 cents below the same week last year.

The largest increases were in the Gulf Coast (13.4 cents) and the Lower Atlantic region (11.4 cents).