Diesel hits record premium over gas, oil

Posted on AllSides November 17th, 2022
From The Right
Justin Sullivan/Getty Images

Dwindling stockpiles of diesel have driven prices to a record premium over gasoline and crude oil, showing how war, weather and other disruptions to globalized energy markets are still producing price shocks and potential shortages.

While the price of gasoline is up about 14% this year, diesel has climbed about 50%, to $5.35 a gallon, according to AAA/Opis. The gains widened the gap between the two to an all-time high of $1.61. A year ago, it was 23 cents. Wholesale diesel, delivered into New York harbor, traded at a record premium to crude...

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