US diesel below $6 a gallon at 2-month low on easing tensions, weaker demand

The US national average price of diesel fell to just below $6 a gallon on Saturday, its lowest level in two months, as easing tensions and weaker seasonal demand reduced pressure on fuel markets. The decline offers some relief after a surge in fuel costs contributed to higher transport and freight expenses, adding to inflation for consumers, farmers and businesses.

GasBuddy put the average at $5.998 a gallon, down from a record $6.519 on 22 September; prices briefly topped $10 in California. Diesel had risen amid disruptions to oil supplies linked to the war involving the US, Israel and Iran and Ukrainian attacks on Russian refineries. More recently, Brent crude has fallen 18.5% in two weeks, while autumn demand typically eases and refinery output recovers after maintenance. Gasoline also fell below $4 a gallon this month for the first time since 10 August.