Diesel Prices Hit Record High as Fuel Costs Continue to Climb
- U.S. retail diesel prices reached $6.505 per gallon on Saturday, the American Automobile Association reported, marking the first time the national average has topped $6.50.
- The US-Iran war has squeezed global fuel supplies, curtailing shipments through the vital Strait of Hormuz as the United States and Iran vie for control of the critical maritime chokepoint.
- Ukrainian drone strikes hit the Moscow Oil Refinery during the largest overnight barrage this year, while Russia has banned most fuel exports through October, compounding supply constraints.
- Diesel runs the country's trucks, farm equipment, trains, and home-heating systems, though most American drivers never fill passenger cars with the fuel, making the spike economically consequential.
- Despite the surge, prices remain below their 2022 inflation-adjusted highs, according to the Washington-based Institute for Progress, offering narrow consolation amid persistent geopolitical tensions.
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The pace of increases has accelerated in September, with an increase of more than 87 cents so far in the month
Diesel prices continue to run in the US and break through the psychological threshold of $ 6.5 per gallon. (ANSA)
Global diesel prices hit record highs, further rises possible
LONDON — Diesel prices have rallied in Europe and the United States to record highs as wars in Iran and Ukraine sharply cut exports from some of the biggest producers such as Russia, Saudi Arabia and the United Arab Emirates, with little options to prevent further gains. Diesel futures in Europe closed at an all-time high last week having more than double their level at the beginning of 2026, after supply disruptions spread to the Red Sea, where…
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U.S. Diesel Reaches Record $6.51 as Global Fuel Supplies Tighten
The national diesel average climbed to an all-time high Monday as disruptions involving the Strait of Hormuz and Russian refineries tightened global supplies, increasing costs ... The post U.S. Diesel Reaches Record $6.51 as Global Fuel Supplies Tighten first appeared on [your]NEWS.
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