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Global diesel prices hit record highs, further rises possible
Wars and export bans have cut supplies from major producers, leaving inventories low and futures at record levels, the International Energy Agency said.
- On Monday, September 21, 2026, U.S. retail diesel prices reached a record average of $6.505 per gallon, surging past $6 in most states as geopolitical tensions strained global supply chains.
- Global diesel shortages stem from the ongoing U.S.-Iran war, which disrupted shipments through the Strait of Hormuz, combined with Ukrainian drone strikes damaging Russian refineries and Moscow extending export bans.
- Record fuel costs are severely squeezing profit margins for truckers and farmers, with long-haul drivers facing fill-up costs ranging from $1,200 to over $1,900 per trip, according to industry data.
- Higher diesel prices are cascading through supply chains, with retailers absorbing freight cost increases that could eventually raise prices for consumers on produce, dairy, and meat products this fall.
- Experts warn heating oil costs could rise by more than 30 percent this winter as the U.S. enters the season with distillate inventories 15 percent below the five-year average.
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US President Donald Trump says he supports party members who have advocated for a halt to American diesel exports.
·Oslo, Norway
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Brace For Impact: Diesel Costs Top $6.50 A Gallon Amid Worsening Supply Disruptions
The national average price of diesel in the U.S. climbed above $6.50 a gallon, setting a new record as supply disruptions tied to multiple overseas conflicts continued to tighten global fuel markets, according to data from the American Automobile Association (AAA). The average nationwide diesel price rose to $6.505, up from $5.85 a week earlier, according to AAA data cited in reports. The price has gained more than 87 cents so far in September, …
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Total News Sources514
Leaning Left40Leaning Right58Center180Last UpdatedBias Distribution65% Center
Bias Distribution
- 65% of the sources are Center
65% Center
14%
C 65%
R 21%
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