Diesel prices at lowest level since Ukraine invasion: ‘Demand remains muted’

Diesel prices are at their lowest level since before Russia invaded Ukraine two and a half years ago.

We’re talking more than 900 days, since January 2022, that diesel was where it is now – averaging $3.72 per gallon nationwide, down 3.4 cents from a week ago, according to GasBuddy.

The national average for a gallon of unleaded gas is $3.41 a gallon, down 3.2 cents a gallon from last week.

The national average is, notably, down 42.5 cents a gallon from where it was a year ago.

Patrick De Haan, the head of petroleum analysis at GasBuddy, said the reason for the decline is that “demand remains muted.”

“As long as we can avoid a major hurricane threatening refineries in the Gulf region, I believe we could see declines continue into this week, with the national average potentially dipping to its lowest level of the summer,” De Haan said.