Diesel prices are nearing $6 a gallon for the first time ever
Updated on: September 10, 2026 / 5:54 PM EDT / CBS News
TL;DR
- Diesel prices are approaching $6 a gallon, with the national average at $5.98.
- This 61% year-over-year increase affects trucking, rail, construction, and farming.
- The surge is attributed to the war in Iran impacting global oil supply and a squeeze on refining capacity in Russia and the Middle East.
- Ukrainian drone strikes on Russian refineries have reduced oil refining capacity.
- Businesses have largely absorbed higher diesel costs but are expected to pass them on to consumers in the coming months.
- Consumers may see price increases for groceries (especially refrigerated and long-distance items), furniture, and car destination charges.
- Global oil production is not expected to return to pre-war levels by the end of 2027.