Magnus Technologies (“Magnus”), a leading Transportation Management System (TMS) software provider, today released its July 2026 Diesel Fuel Snapshot, a monthly market intelligence report tracking diesel price movement and what those shifts mean for carriers managing fuel costs and surcharge programs.

The latest snapshot found that the U.S. average retail diesel price fell to $4.96 a gallon in July, down 64.5 cents from last month. This was the second consecutive monthly decline, following a surge in the spring that pushed prices to $5.64 a gallon by early April and remained above the $5.00 threshold for ten straight weeks. Despite the July decline, diesel remained 31.14% above July 2025 levels, and included two weeks with the national average above $5 per gallon, bringing the total number of weeks above that threshold in 2026 to 16.

“Falling diesel prices sound positive, but for carriers, a changing fuel market creates risk in both directions,” said Matt Cartwright, founder and CEO of Magnus Technologies. “When fuel prices rise, a surcharge structure that lags can leave carriers absorbing costs they have not recovered, while falling prices can create the opposite problem. The goal is to make sure your surcharge program moves with the market.”

July marked a notable shift in the diesel market, extending a two-month decline after three months of elevated prices. The change is particularly important for carriers whose surcharge programs are based on prior-week or prior-month diesel indexes. As the market moves, outdated assumptions or inflexible surcharge structures can create disconnects between what carriers are paying for fuel and what they are recovering from customers.

Recent market developments suggest July's decline should not be viewed as a return to stable fuel costs. U.S. distillate inventories remained below historical averages in mid-July, while global supply disruptions contributed to sharp swings in diesel markets.

The Magnus Diesel Fuel Snapshot was created to help carriers better understand what fuel trends actually mean for their surcharge programs and per-mile margins, using the same EIA data most fleets already track.