Diesel Hits Record $6.50 as War Disruptions Squeeze Supplies

U.S. diesel prices have exceeded $6.50 per gallon for the first time, with the national average reaching $6.51 on September 21st. This increase is attributed to supply disruptions caused by the war in Iran and strikes on Russian refineries, affecting crude oil markets. As diesel fuels critical sectors like trucking, freight, and farming, these higher prices are placing pressure on transportation costs across the U.S. economy.

• U.S. diesel prices have reached a record high of over $6.50 per gallon.
• The surge is driven by supply disruptions from the war in Iran and Ukrainian strikes on Russian refineries.
• War-related disruptions in crude oil markets are a key factor.
• Diesel powers significant sectors of the U.S. economy, including trucking, freight, farming, and delivery.
• Higher diesel prices are expected to increase transportation costs.
• Approximately 10% of U.S. service stations are now charging over $7 per gallon for diesel.