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Falling diesel prices Could Help Keep Inflation in Check

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US diesel prices have fallen to their lowest level since Feb. 2022, prior to Russia’s invasion of Ukraine, according to GasBuddy’s Patrick De Haan via X.

  • The average price of retail diesel in the US has fallen to $3.791/gal, the lowest since Feb. 6, 2022.
  • “A lot of things have gone right for this to happen. Ultimately though diesel prices bottom in the summer whereas gasoline bottoms in winter,” De Haan said.
  • Increasing refinery runs have helped boost diesel stock levels, which rose again in the most recent EIA data.
  • Demand from industry has also likely been more muted, with data showing that US manufacturing activity softening in May.
  • The ISM manufacturing gauge for May was down 0.5 points to 48.7, the weakest in three months. Numbers below 50 show a contraction.
  • This points to a further softening diesel market which could help to curb inflation through the summer.
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US diesel prices have fallen to their lowest level since Feb. 2022, prior to Russia’s invasion of Ukraine, according to GasBuddy’s Patrick De Haan via X.

  • The average price of retail diesel in the US has fallen to $3.791/gal, the lowest since Feb. 6, 2022.
  • “A lot of things have gone right for this to happen. Ultimately though diesel prices bottom in the summer whereas gasoline bottoms in winter,” De Haan said.
  • Increasing refinery runs have helped boost diesel stock levels, which rose again in the most recent EIA data.
  • Demand from industry has also likely been more muted, with data showing that US manufacturing activity softening in May.
  • The ISM manufacturing gauge for May was down 0.5 points to 48.7, the weakest in three months. Numbers below 50 show a contraction.
  • This points to a further softening diesel market which could help to curb inflation through the summer.