GasBuddy analyst Patrick De Haan on Tuesday said that diesel could become cheaper in some states across the U.S. as refinery issues clear up in the coming weeks.
Diesel Prices May Be Coming Down
In a post on the social media platform X, De Haan said that prices of diesel could fall in states like Michigan, Indiana, Wisconsin, Illinois and Ohio by ">50 cents to $1/gal" in the coming weeks.
The analyst said that the price slide would occur as "refinery issues" clear up and oil prices drop. However, De Haan did note that the drop also depends on the "US/Iran situation."
Iran War And Gas Prices
De Haan had earlier shared that gas prices would come down once the U.S. and Iran reached an agreement and there was a sustained flow of traffic through the Strait of Hormuz.
However, the U.S. Central Command said that it conducted strikes on Iranian missile sites and vessels over the weekend as self-defense measures.
The Islamic Revolutionary Guard Corps (IRGC), on the other hand, said it shot down a U.S. drone entering its airspace, as well as fired on an F-35 fighter jet amid a fragile ceasefire.
Diesel Prices In The US
The current national average price of diesel is $5.579/gallon on Wednesday, according to data from the American Automobile Association (AAA). In Indiana, diesel was $5.955/gallon, while Illinois residents paid $5.985/gallon for diesel.
In Wisconsin, diesel commanded an average price of $5.669/gallon and in Michigan, prices hovered around the $5.981/gallon mark. Fuel pumps in Ohio, on the other hand, charged an average of $5.920/gallon for diesel on Wednesday, the AAA data showed.
Gov. Gavin Newsom (D-CA) recently outlined soaring gas and diesel prices in the U.S. as the Iran war loomed over global crude oil supply chains and caused higher costs for Americans.