Diesel fuel retail prices per month in the U.S. 2022-2024

In December 2024, one gallon of diesel cost an average of 3.49 U.S. dollars in the United States. That was a slight decrease compared to the previous month and was the lowest price in the past 24-month period.

Impact of crude prices on motor fuel consumer prices

Diesel prices are primarily determined by the cost of crude oil. In fact, crude oil regularly accounts for around 50 percent of end consumer prices of diesel. As such, supply restrictions or weak demand outlooks influence prices at the pump. The fall in diesel prices noted in the latter half of 2024 is a reflection of lower crude prices.

Diesel and gasoline price development

The usage of distillate fuel oil began in the 1930s, but until further development in the 1960s, diesel vehicles were mostly applied to commercial use only. In the U.S., diesel-powered cars remain a fairly small portion of the automobile market and diesel consumption is far lower than gasoline consumption. In general, gasoline also tends to be more widely available than diesel fuel and usually sells for a lower retail price. However, diesel engines have better fuel economy than gasoline engines, and, as such, tend to be used for large commercial vehicles.