Considering that spot crude costs have risen by about 83% y-o-y, I would think that diesel and gasoline prices are likely to continue to rise for quite some time to come as the current spot crude price has yet to fully work its way into the refinery complex. If spot prices sustain above $115 per barrel over then prices are going to continue their upwards trajectory for at least 8-10 weeks.

The really interesting things to note about US prices are the following:

Retail/distribution margins for gasoline and diesel have fallen by about 20-25% since the same time last year - considering that operator costs have risen quite sharply over that time-frame, then that sector of the market has gotta be hurting..badly.

According to EIA data, the refining margins in March for gasoline were 8%, and for diesel they were 20%. A year ago gasoline and diesel prices were at parity, but have now decoupled.

Methinks that there is an element of cross-subsidy from diesel to gasoline going on. Not surprising as it is an election year, and the big oil companies all have an interest in innoculating themselves from political scrutiny as much as possible.... a losing battle perhaps, but that doesn't mean that they won't pull every trick that they can find up their immaculately-tailored sleeves.