Diesel Prices Break $4 Barrier

Following a nationwide trend in rising prices at the pump, diesel topped $4 per gallon this week.

On-highway diesel rose to its highest price since 2013, according to data from the U.S. Energy Information Administration (EIA).

On average, the price of diesel per gallon was $4.019, with higher prices reported on the coasts ($4.994 in California and $4.210 in the Central Atlantic region) and slightly lower numbers for the Midwest ($3.884). Nationwide, that’s an increase of more than a dollar ($1.143) since February 2021.

Diesel last crossed the $4 threshold in March 2014, but has yet to eclipse its Great Recession height of $4.68 per gallon, set in June 2008.

The EIA’s numbers include taxes, which the administration estimates factor into 16 percent of the cost of a gallon of diesel; 61 percent of the cost goes to crude oil and refining. The other 23 percent factors into distribution and marketing costs.