U.S. Diesel Prices Top $6 a Gallon for First Time

According to Axios, the national average price of a gallon of diesel topped $6 for the first time ever, according to AAA, and is up 60% from a year earlier. Executives at Kroger, Smithfield Foods, Hormel Foods and Newell Brands said higher diesel and energy costs are feeding through supply chains and raising pressure on prices for food and other goods. The Energy Information Administration now expects retail diesel to average $4.40 a gallon in 2027, up 33 cents, or 8.2%, from its prior forecast of $4.07. AAA also said the average price of unleaded gasoline rose $1.11 over the last year to $4.30 a gallon as of Friday. GasBuddy analyst Patrick De Haan said 47 of the 50 states have seen average diesel prices rise by more than $2 a gallon over the past year, the economy is facing an extra $300 million in diesel costs every 24 hours, and California is poised to become the first state with average diesel prices above $8.