Diesel Prices

Diesel prices averaged USD 2.22 per gallon in March, down 7.8% from February. On 31 March, the commodity traded at USD 2.30 per gallon, down 1.3% from 28 February.

The drop reflected a decline in crude costs plus the crack spread—diesel’s price premium over crude—which fell in March from an 11-month high in February. U.S. refiners’ capacity utilization rose to the highest level since January as seasonal maintenance work was completed.