Diesel prices averaged USD 2.07 per gallon in May, down 1.9% from April. On 30 May, the commodity traded at USD 2.01 per gallon, down 0.5% from 30 April.
The price drop was due to a decline in crude costs. In contrast, the crack spread—diesel’s price premium over crude—widened slightly further in May. Investors favored refined over crude, believing the China-U.S. trade truce should support fuel demand. Meanwhile, higher OPEC+ output is swelling crude inventories.
This chart displays Diesel (NULL) from 2023 to 2025.
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| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Diesel | - | 2.43 | 3.01 | 2.82 | 2.69 | 2.51 | 2.33 | 2.24 |