spring_banner.jpg
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Energy

Diesel prices hit an all-time high

A gas station in Butte, Montana, shows the price of diesel fuel at $5.15 per gallon and the price of regular gasoline at $4.11 per gallon on April 29, 2022.
Freddy Monares
/
Montana Public Radio
A gas station in Butte, Montana, shows the price of diesel fuel at $5.15 per gallon and the price of regular gasoline at $4.11 per gallon on April 29, 2022.

Diesel prices in the U.S. reached a new all-time high on Friday, reaching a record $5.16 per gallon.

The cost of gasoline is also getting more expensive after slightly dipping over the past couple of weeks.
According to fuel-price tracking service GasBuddy, the price surpasses the previous record set last month by almost a dime. Diesel is now $1 per gallon higher than gasoline prices, breaking the previous record set back in 2008.

GasBuddy attributes the price hike to the continued escalation of Russia’s war in Ukraine, plunging oil inventories and recovering consumer demand. Diesel fuel powers most of the trucks, ships and trains transporting those products.

AAA, meanwhile, says the average price of a gallon of regular gasoline in Montana is three cents lower than the national average.

Both organizations anticipate more high prices amid tight supply and a volatile crude oil market.

Copyright 2022 Montana Public Radio. To see more, visit Montana Public Radio.