Global diesel prices hit record highs, further rises possible
Farm and trucking costs are climbing as diesel prices keep rising, with AAA saying the national average reached a record $6.31 a gallon.
- On Monday, September 21, 2026, the nationwide average price for diesel fuel hit a record $6.52 per gallon, according to the American Automobile Association , driven by persistent global supply disruptions.
- The U.S. war with Iran and Ukrainian attacks on Russian refineries have squeezed global supplies by restricting tanker traffic through the strategic Strait of Hormuz and damaging critical processing infrastructure.
- Owner-Operators report paying nearly $1,200 per fill-up while farmers face fuel costs up $11 per acre for corn, forcing many to tighten expenses or risk losing thin profit margins.
- Rising transportation expenses ripple through the supply chain, as Michigan State University economist David Ortega warned consumer food prices rose 2.7% year-on-year in August, with further increases expected.
- The International Energy Agency warned that if Gulf supplies remain constrained, higher prices may be required to close the supply-demand gap as consumers face potentially higher home heating costs this winter.
392 Articles
392 Articles
Global diesel prices hit record highs, further rises possible
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.
The global diesel fuel shortage has been exacerbated by the US conflict with Iran and disruptions to energy flows through the Strait of Hormuz.
Russia-Ukraine, West Asia and why the energy crisis is moving from oilfields to refineries time is different
The shortages now are more in diesel, jet fuel and sulphur than in crude petroleum. This is also reflected in crack spreads – the price difference between crude oil and refined products – surging to all-time highs.
Diesel at $6.50 a Gallon: How Wars and Tight Supplies Are Reshaping American Transport and Food Costs
U.S. diesel prices have surged past $6.50 a gallon, more than doubling from pre-conflict levels. The spike driven by Middle East tensions and Russian refinery attacks hits truckers, farmers, and food supply chains hardest. Higher transport costs now threaten broader inflation.
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