U.S. diesel prices have fallen below prices from before Russia's invasion of Ukraine

U.S. ultra-low sulfur diesel front-month futures prices have declined each month since January 2023 and, as of May, averaged $0.50 per gallon (gal) lower than prices in February 2022, just before Russia’s full-scale invasion of Ukraine. For over a year, Russia’s full-scale invasion of Ukraine, and the reaction to it, has disrupted global crude oil and petroleum product markets. More »