Diesel Prices Hit Record High as Fuel Costs Continue to Climb
- Wars in Iran and Ukraine continue to disrupt diesel supplies, extending global shortages into 2027 and creating a drag on agriculture, manufacturing, and heavy transportation worldwide.
- The US Energy Information Administration reported inventories fell to 107.9 million barrels by September 11, the lowest level since 1982, with forecasts predicting further depletion below 100 million barrels through 2027.
- Stocks in the Amsterdam-Rotterdam-Antwerp storage hub were 16% below the five-year average in July, while Moscow extended diesel export restrictions through October, further constraining global supply.
- Refiners and traders are declining to renew diesel storage leases in North America, pushing available capacity to 13 million barrels for October, while owner David Garrigus of EcoBox Dumpsters noted, "Each unnecessary truck movement now has a much greater cost."
- Retail diesel prices in the United States moved above $6 a gallon this month, squeezing farmers and truckers, as Alex Hodes, director of energy market strategy at StoneX, warned, "Current fundamentals point to higher prices staying here for a while.
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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
‘No slack’ left in U.S. refineries as diesel tops $6.50 a gallon, could go even higher * WorldNetDaily * by Simon August, Daily Caller News Foundation
'When families spend more at the pump, they have less to spend elsewhere, and that can translate into weaker demand for the goods trucks move'
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…
Global diesel shortage likely to last into 2027 as storage ...
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