US Diesel Price History: Weekly Trend, Forecast, and Major Spikes (2026)
Current average: $5.21/gal (Updated June 8, 2026). Source: EIA Weekly On-Highway Diesel Survey, FRED Federal Reserve Economic Data.
Annual Average US Diesel Price, 2000-2026
$1.492000
$1.402001
$1.322002
$1.512003
$1.812004
$2.392005
$2.712006
$2.892007
$3.802008
$2.462009
$3.072010
$3.842011
$3.972012
$3.922013
$3.832014
$2.712015
$2.302016
$2.652017
$3.182018
$3.062019
$2.552020
$3.272021
$5.102022
$4.182023
$3.822024
$3.662025
$4.652026
Orange = 2026 (current). Red = 2022 (all-time high). Source: EIA Weekly On-Highway Diesel Survey annual averages, FRED series GASDESW. 2026 = YTD average through May 2026.
| Year | Annual Avg ($/gal) | Change from Prior Year | Notes |
|---|---|---|---|
| 2026 | $4.65 | +0.99 | Tight distillate inventories + geopolitical risk - weekly prices peaked near $5.64 in early May, easing since |
| 2025 | $3.66 | -0.16 | |
| 2024 | $3.82 | -0.36 | |
| 2023 | $4.18 | -0.92 | |
| 2022 | $5.10 | +1.83 | Russia/Ukraine - diesel spikes to $5.81/gal (June peak) |
| 2021 | $3.27 | +0.72 | |
| 2020 | $2.55 | -0.51 | COVID demand collapse - lowest since 2009 ($2.00/gal) |
| 2019 | $3.06 | -0.12 | |
| 2018 | $3.18 | +0.53 | |
| 2017 | $2.65 | +0.35 | |
| 2016 | $2.30 | -0.41 | |
| 2015 | $2.71 | -1.12 | |
| 2014 | $3.83 | -0.09 | OPEC supply glut - diesel falls from $3.97 to $2.33 |
| 2013 | $3.92 | -0.05 | |
| 2012 | $3.97 | +0.13 | |
| 2011 | $3.84 | +0.77 | |
| 2010 | $3.07 | +0.61 | |
| 2009 | $2.46 | -1.34 | |
| 2008 | $3.80 | +0.91 | Financial crisis spike to $4.76/gal (July) then collapse to $2.08 (Dec) |
| 2007 | $2.89 | +0.18 | |
| 2006 | $2.71 | +0.32 | |
| 2005 | $2.39 | +0.58 | |
| 2004 | $1.81 | +0.30 | |
| 2003 | $1.51 | +0.19 | |
| 2002 | $1.32 | -0.08 | |
| 2001 | $1.40 | -0.09 | |
| 2000 | $1.49 | - |
EIA Diesel Price Forecast: 2026-2027
The EIA May 2026 Short-Term Energy Outlook forecasts US retail diesel will:
- Have peaked near $5.64/gal in early May 2026, below EIA's earlier April forecast of a $5.80-$5.90 peak, as distillate inventories ran below the 5-year average through spring.
- Average about $4.76/gal for full-year 2026 as global refinery output rises in H2 2026 and distillate inventories gradually normalize.
- Ease further in 2027 as Middle East and Asian refinery capacity additions come online, increasing global distillate supply.
Source: EIA Short-Term Energy Outlook, May 2026. Forecasts are subject to revision based on crude oil market developments, geopolitical events, and demand changes.
FAQ
What was the highest diesel price ever recorded in the US? +
The US national average on-highway diesel reached $5.81/gal in June 2022, following Russia's invasion of Ukraine in February 2022. Russia is a major exporter of distillate products to Europe; sanctions and embargoes forced Europe to redirect purchases to US exports, draining US distillate inventories. Combined with already-tight post-COVID supply, the June 2022 spike was the highest weekly average ever recorded in EIA's on-highway diesel survey data going back to 1994.
What does the EIA forecast for diesel prices in 2026 and 2027? +
Weekly diesel prices peaked near $5.64/gal in early May 2026 and have eased since (the June 8 reading was $5.21), coming in below EIA's April forecast of a $5.80-$5.90 peak. EIA's May 2026 Short-Term Energy Outlook projects the US on-highway diesel price will average about $4.76/gal for full-year 2026 as global refinery output increases and distillate inventories gradually normalize, then ease further in 2027 as Middle East and Asian refinery capacity additions outpace demand growth. These forecasts assume no major supply disruption.
How does 2026 diesel compare to 2022? +
Spring 2026 diesel peaked near $5.64/gal in early May, below the 2022 June peak of $5.81/gal. The causes differ: 2022's spike was driven primarily by geopolitical supply shock (Russia/Ukraine) and a sudden post-COVID freight surge; 2026's elevated prices reflect a longer-duration inventory tightness caused by sustained global distillate demand growth, slower-than-expected refinery capacity additions, and extended European heating demand. Both periods show the vulnerability of diesel pricing to distillate inventory levels below the 5-year average.