US Diesel Price History: Weekly Trend, Forecast, and Major Spikes (2026)
Current average: $5.59/gal (Updated April 29, 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
$3.962025
$5.592026
Orange = 2026 (current). Red = 2022 (all-time high). Source: EIA Weekly On-Highway Diesel Survey annual averages, FRED series GASDESW. 2026 = YTD average as of April 29.
| Year | Annual Avg ($/gal) | Change from Prior Year | Notes |
|---|---|---|---|
| 2026 | $5.59 | +1.63 | Tight distillate inventories + geopolitical risk - spring spike above $5.80 |
| 2025 | $3.96 | +0.14 | |
| 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 April 2026 Short-Term Energy Outlook forecasts US retail diesel will:
- Peak near $5.80-$5.90/gal in late April / early May 2026 as distillate inventories remain below the 5-year average and spring demand continues.
- Average $4.80/gal for full-year 2026 as global refinery output rises in H2 2026 and distillate inventories gradually normalize.
- Ease further in 2027 to $4.20-$4.50/gal as Middle East and Asian refinery capacity additions come online, increasing global distillate supply.
Source: EIA Short-Term Energy Outlook, April 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? +
EIA's April 2026 Short-Term Energy Outlook projects the US average retail diesel price will peak near $5.80-$5.90 in April-May 2026, then ease to an annual average of approximately $4.80/gal for 2026 as global refinery output increases and distillate inventories gradually normalize. For 2027, EIA projects further easing to $4.20-$4.50/gal as global refinery capacity additions (primarily in the Middle East and Asia) outpace demand growth. These forecasts assume no major supply disruption.
How does 2026 diesel compare to 2022? +
Spring 2026 diesel prices are approaching but have not yet exceeded 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.