Local Drivers Feel Sting of Soaring Gas Prices
Average nationwide diesel prices rose to $6.505 a gallon as war-related supply disruptions in Russia and the Middle East tightened global fuel markets.
- U.S. retail diesel prices topped $6.50 a gallon for the first time on Saturday, with the national average reaching $6.505, according to the American Automobile Association.
- Global fuel supplies face severe constraints from the US-Iran war, with shipments through the vital Strait of Hormuz curtailed and crude oil cargoes failing to recover to pre-war levels.
- Ukrainian drone strikes hit the Moscow Oil Refinery during the largest overnight barrage this year, while Russia has banned most diesel exports and may extend restrictions through October.
- Most American drivers do not pump diesel, yet the fuel powers trucks, farm equipment, trains, and home-heating systems, making the price spike ripple through nearly every corner of the economy.
- Despite the surge, prices remain below their 2022 inflation-adjusted highs, according to the Washington-based Institute for Progress, offering a narrow consolation amid persistent market tightness.
23 Articles
23 Articles
Analysis-Global diesel shortage likely to last into 2027 as storage tanks drain
By Shariq Khan and Siddharth Cavale NEW YORK, Sept 21 (Reuters) - A global diesel shortage fueled by wars in Iran and Ukraine is unlikely to ease before next year, according to storage market indicators and industry participants, extending a spike in f...
US Retail Diesel Price Hits Record High; Global Distillate Output to Remain Below Last Year’s Levels: EIA
Get latest articles and stories on Business at LatestLY. US retail diesel prices have surged to a record nominal high of USD 6.29 per gallon amid tight global supplies, with global distillate fuel production expected to remain below last year’s levels in the coming months, according to the US Energy Information Administration (EIA). Business News | US Retail Diesel Price Hits Record High; Global Distillate Output to Remain Below Last Year’s Leve…
Iran war drives US diesel prices to record high, no relief ahead
Washington: fuel prices in the U.S. continue to break all-time records, hitting USD 6.28 a gallon as a national average on September 14, 2026, and they aren’t likely to come down anytime soon. Because diesel is the fuel for freight transportation, farming and construction – and is related to a key heating fuel – the effects are set to spread across the entire US economy. The inflation-adjusted price of diesel in late August was about as high as …
(Seoul = Yonhap News) Reporters Kang Hoon-sang and Kwak Min-seo = Bloomberg reported that the average consumer price of diesel fuel nationwide in the United States has exceeded $6.50 per gallon (approximately 3.8L) for the first time...
Retail diesel prices in the U.S. reached an all-time high of $6.5050 per gallon, following a rapid climb in September.
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