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2026-09-03 17:41:49 US retail diesel prices have climbed to the highest level since mid-2022, surpassing the peak seen during the early stage of the Iran war and nearing a historical record. The national average retail diesel price rose to USD5.783 per gallon on Wednesday (2nd), topping the wartime peak set in April and reaching a four-year high, according to data from the American Automobile Association (AAA). The price was only slightly below the historical peak of USD5.816 recorded in June 2022 during the energy crisis triggered by Russia's invasion of Ukraine. Patrick De Haan, head of petroleum analysis at GasBuddy, a website and app that helps drivers find cheaper fuel stations, said current trends suggest prices may break the historical record before Labor Day next Monday (7th). Surging diesel prices have benefited refiners, with US refining margins for converting crude oil into diesel hitting a record high above USD100 per barrel. Among refiners, shares of Marathon Petroleum Corporation (MPC.US) and Valero Energy Corporation (VLO.US) have both more than doubled this year. ~ AASTOCKS Financial News Website: www.aastocks.com | |