US diesel below $6 a gallon at 2-month low on easing tensions, weaker demand
Business Recorder • • 1 min read
US retail diesel averaged $5.998 per gallon on Saturday, slipping under $6 for the first time in two months, Business Recorder reported. GasBuddy data put the recent peak at $6.519 on September 22, after prices crossed $6 on September 10.
The report attributes the retreat to softer autumn demand, lower crude prices and reduced pressure from geopolitical tensions. Brent futures have declined 18.5% over the past two weeks, while refinery maintenance is largely finished, allowing production to recover. Diesel’s earlier surge had raised transport and freight costs, adding to inflationary pressure on consumers, farmers and businesses. US gasoline prices have also fallen below $4 per gallon this month, according to GasBuddy.
At a glance
- US diesel averaged $5.998 per gallon on Saturday.
- Brent crude futures fell 18.5% over the past two weeks.
- US gasoline prices also dropped below $4 per gallon this month.
Originally reported by Business Recorder
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