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US Import Fuel Prices Saw Biggest Jump Since 2022, Bureau of Labor Statistics Says

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US import prices for fuel and lubricants jumped 16.3% in April, marking the largest monthly increase since prices rose 17.8% in March 2022, the US Bureau of Labor Statistics said Thursday.

Fuel and lubricant import prices accelerated after rising 10% in March, as higher petroleum costs outweighed falling natural gas prices.

Import prices for petroleum and petroleum products climbed 19% over the month, driving most of the increase in overall fuel import costs.

Import natural gas prices moved in the opposite direction during April, falling 22.1% from the previous month, according to the data.

Prices for imported fuels and lubricants increased 20% over the year.

Over the past 12 months, the price index for imported petroleum and petroleum products rose 22%, the data showed.

Natural gas import prices edged up 0.1% over the year despite the sharp monthly decline recorded in April, the agency added.

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