The price of diesel has shot up across the country amid a supply crunch which is raising concerns among analysts that a severe, continued shortage might cripple the U.S. economy this winter and send already high inflation soaring.
According to data from the American Automobile Association (AAA), diesel prices reached a national average of $5.309 per gallon as of today, compared to $3.634 a year ago. Prices are now higher than a month ago, when diesel cost $4.876, but lower than a week ago when they shot up to $5.326.
Diesel reached a record-high average price of $5.703 a gallon in June this year, and even as prices have cooled a little since then, the decrease hasn't been nearly as significant as the drop in gas prices. Where gas prices have dropped by 24 percent since June, diesel prices have gone down by only 8 percent.
Patrick De Haan, GasBuddy's head of petroleum analysis, previously told Newsweek that diesel prices remain high "due to inventories at very low levels and limited ability to quickly improve supply," at the same time as demand is at an all-time high in the aftermath of the pandemic.
These are the 10 states where diesel prices have jumped the most on a year-on-year, month-on-month, and week-on-week basis, according to AAA data.
Year-on-Year
On a year-on-year basis, Vermont has seen the biggest diesel price increase: while on October 31, 2021 the fuel cost $3.594, it now costs $5.898—a $2.304 price increase.
Rhode Island saw the second highest increase, with prices shooting up from $3.561 last year to $5.847 now.
Maine follows with a $2.256 price increase, with diesel now costing $5.813 compared to last year's $3.557.
In Connecticut, diesel cost $2.218 more than on this same day last year, at $5.902 now compared to $3.684 on October 31, 2021. In Massachusetts, diesel prices went up from $3.545 to $5.743.
In New Hampshire, diesel now costs $5.678, $2.175 more than last year at $3.503.
In New Jersey, diesel used to cost $3.692 on October 31, 2021 and now costs $5.791.
In New York, prices grew from $3.743 last year to $5.819 today.
In Delaware, diesel prices went from $3.587 to $5.602.
Pennsylvania, at the bottom of the top 10 states with the biggest diesel price increases, saw prices grow from $3.973 last year to $5.962 now.
Month-on-Month
Rhode Island saw the biggest increase in diesel prices month-on-month among all states, with the fuel costing $5.847 now compared to $4.772 a month ago.
Vermont follows with a $1.055 increase, with prices increasing from $4.843 last month to $5.898 now.
In New Jersey, prices have gone up from $4.776 to $5.791. In Connecticut, diesel prices have shot up from $4.951 to $5.902, in Pennsylvania from $5.019 to $5.962 and in Delaware from $4.680 to $5.602.
In New Hampshire, diesel used to cost $4.793 in September and it now costs $5.678. In Maryland, prices have gone up from $4.711 to $5.594, while in Maine they increased from $4.941 last month to $5.813 now.
In the top 10 of the states which have seen the biggest increase in diesel prices month-on-month there's also Massachusetts, with prices going from $4.899 last month to $5.743 this month.
Week-on-Week
These are the top 10 states that have seen the biggest changes in diesel prices if we consider the week-on-week data, with a few states experiencing a significant drop.
At the top, we find the District of Columbia, where prices have increased from $5.160 last week (as of October 24, 2022) to $5.311 today. Delaware and Maryland follow with price increases of +$0.136 and +$0.134, with the price of diesel increasing from $5.466 to $5.602 and from $5.460 to $5.594 for each state.
Alaska and California experienced the fourth and fifth biggest price change week-on-week, but the price of diesel has dropped fast rather than surge. In Alaska, the price has dropped from $5.415 last week to $5.289 today, and in California it has gone down from $6.455 to $6.339, though it remains much higher than in other states.
In Vermont, prices have increased from $5.785 last week to $5.898 now, while in Arizona they have dropped from $5.252 to $5.169.
In New York, prices have shot up from $5.738 last week to $5.819 now, while in Kansas they have dropped from $5.141 to $5.061.
In New Hampshire, which we also saw in the top 10 for biggest price increases month-on-month, prices have gone up slightly in a week from $5.606 to $5.678.
Where Is Diesel Most Expensive?
Diesel prices remain the highest in states like California ($6.339 as of today), Hawaii ($6.113), Pennsylvania ($5.962), Connecticut ($5.902), Vermont ($5.898), Rhode Island ($5.847), New York ($5.819), Maine ($5.813), New Jersey ($5.791) and Massachusetts ($5.743).
Where Is Diesel the Cheapest?
Texas has the cheapest diesel price in the country, at $4.741 as of today, followed by Mississippi ($4.870), Louisiana ($4.888), Georgia ($4.906), South Carolina ($4.948), Arkansas ($4.955), Oklahoma ($4.977), Alabama ($4.990), New Mexico ($4.995) and Missouri ($5.038).
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
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