Will diesel prices drop in 2023?

In something akin to a gesture of holiday good will, diesel prices at the pump have continued to drop and analysts expect 2023 to bring more of the same. According to AAA, the average price per gallon for diesel on Friday in the U.S. was $4.80, down nearly 20 cents from a week prior and down 55 cents from last month’s average.

How much does a gallon of diesel cost in 2022?

“Diesel prices have some upcoming anniversaries that are quite staggering,” Kloza said. “In 2022, January was ushered in with street prices around $3.63 per gallon and February saw a $3.89/gal average.

What factors affect diesel fuel prices?

Local market conditions and factors such as the location of the fueling station can also affect retail diesel fuel prices. Some retail outlets are owned and operated by refiners, and others are independent businesses that purchase diesel fuel for resale to the public. Why are diesel fuel prices higher than gasoline prices?

What will the diesel refinery margin look like in 2023?

"Although we expect the diesel refinery margin to decrease 19% in 2023 from 2022, we still expect it to be more than double 2021 levels," as distillate supplies and inventory builds are limited due to ongoing constraints on global refining capacity.