# EIA: What's Behind the Rapid Increases in Diesel Prices? - Fuels Market News

> The EIA said New York Harbor ULSD averaged $4.36 per gallon in October 2022, with the diesel crack spread reaching a record $2.14 per gallon. Drivers cited were low US and global distillate inventories, seasonal heating and agricultural demand, refinery maintenance and European strikes, and higher shipping costs before the EU ban on Russian product imports.

- Date: 2022-11-03 · published 2022-11-03T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/7919-eia-what-s-behind-the-rapid-increases-in-diesel-prices-fuels-market-news
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Low inventories combined with a wide crack spread mean refiners earn strong margins, and diesel costs stay high for farm and freight users. The EU Russia ban adds upward pressure on prices through winter.

## Read by commodity

- WTI: neutral
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2019-05-21 | [EIA Gasoline and Diesel Retail Prices Update, May 21, 2019 - Fuels Market News](https://feedsoft.ai/events/7393-eia-gasoline-and-diesel-retail-prices-update-may-21-2019-fuels-market-news.md) | -4.0% | -12.0% |
| DIESEL | 2020-05-28 | [EIA Gasoline and Diesel Retail Prices Update, May 27, 2020 - Fuels Market News](https://feedsoft.ai/events/53320-eia-gasoline-and-diesel-retail-prices-update-may-27-2020-fuels-market-news.md) | +9.7% | +21.9% |
| DIESEL | 2020-11-25 | [EIA Gasoline and Diesel Retail Prices Update, Nov. 24, 2020 - Fuels Market News](https://feedsoft.ai/events/4400-eia-gasoline-and-diesel-retail-prices-update-nov-24-2020-fuels-market-news.md) | -0.2% | +9.6% |
| DIESEL | 2018-07-10 | [EIA Gasoline and Diesel Retail Prices Update,Week Of July 10, 2018 - Fuels Market News](https://feedsoft.ai/events/7771-eia-gasoline-and-diesel-retail-prices-update-week-of-july-10-2018-fuels-market.md) | -6.3% | -2.5% |
| DIESEL | 2024-03-25 | [EIA sharply raises 2026-2027 diesel price forecast \| Latest Market News](https://feedsoft.ai/events/31383-eia-sharply-raises-2026-2027-diesel-price-forecast-latest-market-news.md) | -0.9% | -3.5% |
| WTI | 2026-04-14 | [Benchmark diesel price ends its 12-week streak of increases - FreightWaves](https://feedsoft.ai/events/10137-benchmark-diesel-price-ends-its-12-week-streak-of-increases-freightwaves.md) | -9.6% | +0.2% |
| WTI | 2018-10-16 | [EIA Short-Term Energy Outlook - Fuels Market News](https://feedsoft.ai/events/62749-eia-short-term-energy-outlook-fuels-market-news.md) | -3.6% | -16.6% |
| WTI | 2018-09-12 | [EIA Short-Term Energy Outlook - Fuels Market News](https://feedsoft.ai/events/63219-eia-short-term-energy-outlook-fuels-market-news.md) | +0.8% | +8.2% |

## Sources

- fuelsmarketnews.com: https://fuelsmarketnews.com/eia-whats-behind-the-rapid-increases-in-diesel-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.