US Diesel Price History: Weekly Trend, Forecast, and Major Spikes (2026)
Current average: $5.13/gal (Updated July 20, 2026). Source: EIA Weekly On-Highway Diesel Survey, FRED Federal Reserve Economic Data.
Annual Average US Diesel Price, 2000-2026
$1.49
2000$1.40
2001$1.32
2002$1.51
2003$1.81
2004$2.39
2005$2.71
2006$2.89
2007$3.80
2008$2.46
2009$3.07
2010$3.84
2011$3.97
2012$3.92
2013$3.83
2014$2.71
2015$2.30
2016$2.65
2017$3.18
2018$3.06
2019$2.55
2020$3.27
2021$5.10
2022$4.18
2023$3.82
2024$3.66
2025$4.65
2026Orange = 2026 (current). Red = 2022 (all-time high). Source: EIA Weekly On-Highway Diesel Survey annual averages, FRED series GASDESW. 2026 = YTD average through May 2026.
| Year | Annual Avg ($/gal) | Change from Prior Year | Notes |
|---|---|---|---|
| 2026 | $4.65 | +0.99 | Strait of Hormuz disruption + tight distillate inventories - weekly prices peaked near $5.64 in early May, eased to $4.58 by July 6, then rebounded to $5.13 by July 20 on renewed Hormuz disruption and Russia's July diesel export ban |
| 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 July 2026 Short-Term Energy Outlook forecasts US retail diesel will:
- Have peaked near $5.64/gal in early May 2026 and bottomed at $4.58 on July 6, before a mid-July rebound to $4.80 (July 13) and $5.13 (July 20) driven by renewed Strait of Hormuz disruption and Russia's 8-31 July diesel export ban.
- Average about $4.61/gal for full-year 2026 per EIA's July 8 outlook - a projection that predates the mid-July surge and assumes easing refining margins, so it now sits below the latest weekly reading.
- Ease to about $4.02/gal in 2027 as global refinery capacity additions come online and EIA expects crude oil inventory builds to push Brent down toward $65/bbl.
Source: EIA Short-Term Energy Outlook, July 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 fell to a low of $4.58 on July 6, but rebounded sharply to $4.80 on July 13 and $5.13 on July 20 as renewed Strait of Hormuz tanker disruption, Russia's total diesel export ban (in force 8-31 July), and tight global refining margins pushed distillate prices back up. EIA's July 2026 Short-Term Energy Outlook (published July 8, before the rebound) projects the US on-highway diesel price will average about $4.61/gal for full-year 2026 and about $4.02/gal in 2027, assuming global refinery capacity growth and easing refining margins. Because that outlook predates the mid-July surge, treat the $4.61 figure as an early-July projection rather than a current price; the next outlook is due mid-August.
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.