US Diesel Prices Rise Past $6 a Gallon for First Time Ever
Refinery outages and war-related supply shocks pushed diesel to a record, raising costs for trucking, farming and consumer goods, analysts said.
- On Friday, the U.S. national average diesel price reached $6 per gallon for the first time in history, according to GasBuddy data, marking a record high that surpasses the previous $5.82 record set in June 2022.
- Conflict between the U.S. and Israel against Iran, coupled with Ukrainian attacks on Russian refineries, disrupted shipping through the Strait of Hormuz, which previously carried roughly one-fifth of global oil supply.
- Energy Information Administration data shows U.S. diesel inventories stand 13% below their five-year average, while Andy Lipow, president of Lipow Oil Associates, noted the world has lost nearly 8% of its diesel supply.
- GasBuddy analyst Patrick De Haan warned that record diesel prices will "reignite inflation up and down the supply chain," with the spike already costing Americans more than $46 billion since the war in Iran began.
- Rising fuel costs create a political headache for President Donald Trump and Republican lawmakers as they defend thin congressional majorities in November's midterm elections, with analysts expecting these costs to reach consumers over the next several weeks.
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U.S. Diesel Prices Just Surpassed a Record $6 Per Gallon. Here Are Three Ways That Affects You
"Not everyone drives on diesel, but everyone consumes on diesel," an expert tells TIME, detailing one of the ways American consumers may bear the brunt of the soaring diesel prices.
Average U.S. diesel price hits $6 nationwide, $8 in California
The average diesel price in the U.S. reached $6 per gallon on Friday, and $8 in California, setting new all-time highs and raising the cost of transportation amid fuel supply disruptions caused by wars in Eastern Europe and the Middle East. According to data from GasBuddy, which tracks prices at more than 150,000 gas stations […]
The price of diesel and gasoline in the United States has skyrocketed because of the war President Donald Trump decided to start against Iran. This decision has been used by Democrats to try to win votes.
The average price of diesel in the United States (USA) reached on Friday those driven by wars in Ukraine and Iran, which have caused interruptions in supply, according to data from the American Automobile Association (AAA). Diesel is paid today at US$6.06 per gallon, 63% more than what was paid in ... Continue reading "diesel scores a historic price in the United States for effect of wars in Ukraine and Iran"
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