Average price of diesel to drop below year-ago level for first time in 760 days, according to GasBuddy [Video]

DALLAS — The most common price of diesel fuel in the U.S. right now is $3.99/gallon, making it cheaper than it was a year ago for the first time in 760 days, according to GasBuddy.

The average price is $4.35/gallon, the lowest level since the days immediately after the Russian invasion of Ukraine. GasBuddy says diesel prices have declined nearly $1.50 since last spring, when they reached record levels.

“Diesel’s decline has been astounding—we’ve seen improvements in fundamentals over the last few months with diesel prices down nearly $1 per gallon in the last 100 days, thanks in part due to the Fed raising interest rates, throttling back the economy, as well as Mother Nature reducing consumption through a …