National Average Price of Diesel Hits $6 a Gallon for First Time, GasBuddy Says
GasBuddy said tight global supplies and war-driven crude prices are pushing diesel costs higher, with trucking, shipping and grocery bills expected to rise.
- On Thursday, the national average price of diesel fuel reached $6 per gallon for the first time, according to GasBuddy, up roughly $2.30 from last year's average of about $3.70.
- Global supplies tightened as the U.S. and Israeli war on Iran disrupted the Strait of Hormuz, while Ukrainian attacks on Russia's refineries and Chinese export restrictions squeezed fuel availability worldwide.
- GasBuddy analyst Patrick Haan warned "record diesel prices will impact every cargo, shipment, every delivery Americans are taking," while Food Industry Alliance CEO Mike Durant cited strains on refrigeration costs in grocery stores.
- Rising fuel costs create a political headache for President Donald Trump and Republican lawmakers defending thin congressional majorities in midterm elections, with Trump acknowledging on Wednesday relief may not come until after voting.
- U.S. diesel inventories stand 13% below their five-year average at 106.3 million barrels, and Linda Giesecke of Rapidan Energy expects margins to stay elevated and volatile into early next year amid tight global supplies.
19 Articles
19 Articles
The U.S. has a historical record of diesel fuel – the first time it has risen to six dollars per gallon (about 3.8 liters), reports GasBuddy's fuel price tracking service. A new record was set less than a week after the previous $5.85 maximum, transmitting to RIA News. "This is the level that diesel has never reached," the service estimates. GasBuddy's analysts estimated that at this cost diesel fuel had cost approximately $2.3 compared to last …
The record coincides with an increase in oil futures over $100 per barrel due to the intensification of the conflict between the United States and Iran
Never before have U.S. truckers and farmers had to pay their fuel as much as they do now. Fuel prices are becoming a burden for President Donald Trump and his Republicans. And they could rise even further.
Diesel Prices Hit Record High As Ryan Mackenzie Gives His Trumpapalooza Speech
Mackenzie campaigned on lowering prices… it’s not going well! Diesel prices officially crossed $6/gallon for the first time in history as Congressman Ryan Mackenzie took the stage at Trumpapoolza today. It’s a reminder that Mackenzie lied to Lehigh Valley voters when he promised he would lower costs and spend money here at home instead of […]
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