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, marking a $2.30 increase 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 further squeezed fuel availability.
- GasBuddy analyst Patrick Haan warned record prices will "reignite inflation up and down the supply chain," while Food Industry Alliance CEO Mike Durant cited strains on refrigeration and grocery operations.
- Rising fuel costs create a political headache for President Donald Trump and Republican lawmakers defending thin congressional majorities in midterm elections; Trump acknowledged Wednesday that relief may not come until after voting.
- U.S. diesel inventories stand 13% below their five-year average at 106.3 million barrels, and Rapidan Energy director Linda Giesecke expects margins to remain elevated and volatile into early next year.
22 Articles
22 Articles
(Seoul = Yonhap News) Reporter Jung Joo-ho = U.S. diesel prices have surpassed $6 per gallon, setting a new all-time high.
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
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