Nevada Diesel Hits Record High Amid Gas Price Spike

Diesel fuel prices in Nevada reached an all-time high of $6.71 per gallon. This record was set on Friday. Regular unleaded gasoline in the Las Vegas Valley rose to $5.17 per gallon. That represents a 17-cent increase over the previous week.

The average cost for regular gasoline in Southern Nevada is now $5.17. This is up 41 cents from one month ago. The price is $1.21 higher than the level recorded on the same day last year. The national average is approaching the record high of $4.56 set in May.

Diesel Prices Break Historical Records

Las Vegas recorded its highest diesel price ever at $6.66 per gallon. This figure is up 30 cents from last week. The price is 88 cents higher than the level from one month ago. A year ago, the same gallon cost $3.94.

Nevada now has the fourth-highest average gas price in the nation. The state average stands at $5.22 per gallon. Only California, Washington, and Hawaii have higher averages. Texas and Oklahoma are approaching the $6 per gallon mark for diesel.

Crude Oil Drives Market Volatility

Crude oil prices remain high at an average of $100 per barrel. Volatility in the Strait of Hormuz contributes to this trend. AAA Mountain West Group attributes the price hikes to these global factors. The national diesel average reached $6.44 per gallon on Friday.

Gas prices in the region remain below the all-time high of $5.67. That peak occurred in June 2022. However, current levels are significantly higher than the previous year. Market analysts note that most US states now exceed $6 for diesel.

Regional Data From Industry Sources

Data provided by GN auto markets/energy: gasoline prices confirms the sharp rise. AAA reports show consistent weekly increases in Southern Nevada. GasBuddy analysts highlight the breadth of the price surge across the country. The two states not yet at $6 for diesel may join the list soon.