The average price of diesel in the United States fell below $6 a gallon on Saturday for the first time in two months, as geopolitical tensions eased and seasonal demand declined. This eased pressure on fuel markets after record price rises.
اضافة اعلان
Diesel prices had risen because of disruption to oil supplies linked to the US-Israeli war on Iran, alongside repeated Ukrainian attacks on Russian oil refineries, which affected production levels.
In California, where limited refining capacity and strict fuel specifications restrict supply, diesel prices briefly exceeded $10 a gallon.
High diesel costs, a key component of transport and shipping expenses, added to inflationary pressures, affecting consumers, farmers and businesses.
The administration of US President Donald Trump took steps to limit the rise in costs. These included a temporary suspension of federal taxes on dyed red diesel and an easing of sanctions on Russian fuel, as well as a $8 billion support programme to help farmers cope with higher fuel costs during the autumn harvest. These measures, however, provided only limited relief while concerns over oil supplies persisted.
A fall in crude oil prices, together with seasonal factors, contributed to the decline in diesel prices. Brent crude futures fell 18.5% over the past two weeks.
Patrick De Haan, head of oil analysis at GasBuddy, said fuel demand typically falls in autumn as car traffic decreases, the hurricane season winds down and the risk of refinery outages on the US Gulf Coast declines.
He added that refinery maintenance work is largely complete by November, allowing production rates to recover.
The decline has also extended to petrol prices, whose national average fell below $4 a gallon this month for the first time since 10 August, according to GasBuddy data.
