Diesel prices are nearing $6 a gallon for the first time ever

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.

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