The national average retail diesel price decreased for the eighth consecutive week, falling 16.4 cents to $4.668 per gallon as of June 30, 2026, according to the Department of Energy's Energy Information Administration. This price is used for most fuel surcharges and represents a decline of 97.2 cents per gallon from the May 4 price of $5.64 per gallon.

Ultra low sulfur diesel prices on CME settled at $3.3168 per gallon on Tuesday, down approximately 1.5 cents per gallon. The eight weekly declines in the retail diesel price varied from 0.1 cents per gallon to 22.7 cents per gallon. Separately, ultra low sulfur diesel prices on CME settled at $3.0931 per gallon on June 22.

The 3:2:1 crack spread for global crude benchmark Brent reached almost $60 per barrel based on front month settlements on Monday on the CME commodity exchange. This crack spread was approximately $22 per barrel before the Iran war began. The FUELS.USA data series in SONAR indicated a spread of $1.59 per gallon on Tuesday, after being more than $1.85 per gallon early last week. Before the Iran war, the FUELS.USA spread was about 75 cents per gallon.

Jeffrey Currie, co-chair of Abaxx Markets and former head of commodity research at Goldman Sachs, said in a Friday interview on CNBC that the crude market currently is in surplus because of the sudden rush of oil that has gotten out of the Strait of Hormuz. Currie said Iranian oil that had been sanctioned by the U.S. can now move freely as a result of the peace deal with the U.S. "We have surplus crude that's hitting the market, but we have a shortage in products, so that shortage of the products is ultimately going to have refineries kick up their runs, chasing the good margins," Currie said. "So I would view this as being temporary."

Helima Croft, Managing Director and Head of Global Commodity Strategy and Middle East and North Africa Research at RBC Capital Markets, said in an interview on CNBC that focusing solely on how much oil is getting out of the Strait of Hormuz is only half the equation. "I don't think we're anywhere close to normalization of shipping flows," Croft said.

Other regional benchmarks also reflected price changes. A national average retail diesel price was $4.853 per gallon on Tuesday. The DTS.USA average retail diesel price stood at $4.91 per gallon on the same day.