Diesel prices reach all-time high in Missouri and nationwide

COLUMBIA, Mo. (KMIZ)

Diesel prices have reached all-time highs nationally, statewide and in Columbia on Labor Day, with averages roughly 60% higher than they were one year ago.

The national diesel average reached about $5.90 per gallon Monday, according to AAA. That is up from $5.60 one week ago and about $3.71 one year ago — a year-over-year increase of about 59%.

Missouri’s average reached a record of about $5.55 per gallon. The statewide average was about $5.23 one week ago and $3.42 one year ago, meaning diesel prices have increased approximately 62% over the past year.

Columbia also set a diesel record Monday, with an average of about $5.51 per gallon. That is up from $5.28 one week ago and $3.47 one year ago—an increase of approximately 59%.

LINK: ABC 17 Fuel Finder

The effects of record diesel prices can extend beyond what drivers pay at the pump. Diesel powers trucks used to transport food and other consumer products. Farmers also rely on diesel to operate equipment and transport crops and livestock.

Higher fuel expenses could increase operating and transportation costs for those industries and eventually affect the prices consumers pay for groceries and other products. Meanwhile, inflation continues at rates that have led the Fed to keep interest rates the same.

Regular gasoline also reached a national Labor Day record Monday.

The national average for regular gasoline reached about $4.15 per gallon, according to AAA. That is up from $4.08 one week ago and about $3.20 one year ago — an increase of approximately 30%.

The current national average remains below the all-time gasoline record of about $5.02 per gallon set in June 2022.

Missouri drivers are paying an average of about $3.82 per gallon for regular gasoline. The statewide average was $3.79 one week ago and $2.90 one year ago.

Columbia’s average reached about $3.87 per gallon Monday, compared with approximately $2.95 at the same time last year.