Diesel Hits Record $5.85 a Gallon, AAA Says

Diesel prices have officially moved into record territory.

The national average reached $5.85 per gallon on September 4, according to AAA’s national fuel-price tracker. That tops AAA’s previous record of $5.8159, set on June 19, 2022.

The jump has been fast, as diesel averaged $5.7832 just one day earlier, $5.6105 a week ago, and $5.3715 a month ago.

A year ago, the national average was just $3.7121. At today’s price, diesel costs about 58% more than it did one year ago.

For RVers with diesel-powered motorhomes or tow vehicles, that difference adds up quickly:

Diesel purchased	At $5.85	At last year’s $3.7121	Difference
50 gallons	$292.50	$185.61	$106.89
100 gallons	$585.00	$371.21	$213.79
150 gallons	$877.50	$556.82	$320.68

Why Diesel Prices Are Surging

The increase is tied to unusually tight global diesel supplies.

Reuters reports that fuel supplies have been disrupted by renewed fighting between the U.S. and Iran, along with Ukrainian attacks on Russian refineries. Russia is a major exporter of diesel and other refined fuels.

U.S. inventories are also low, which we recently covered. Reuters reported that East Coast diesel and heating-oil stocks recently fell to a record 19.3 million barrels despite refiners increasing production. Seasonal demand from agriculture and heating could put additional pressure on supplies in the coming months.

Diesel prices also have effects well beyond the pump. Trucks, farm equipment and other parts of the transportation system depend heavily on diesel, meaning higher fuel costs can eventually work their way into shipping, food and other consumer prices.

One thing worth noting: $5.85 is the highest national diesel average in nominal dollars, but the Associated Press reports that previous price spikes, including 2008, were higher after adjusting for inflation.

For diesel RV owners, though, the immediate effect is pretty straightforward: compared with this time last year, a 100-gallon fill-up now costs about $214 more.