Diesel Hits Record $6.50 as War Disruptions Squeeze Supplies
One in 10 U.S. service stations now charges more than $7 per gallon for diesel amid a global supply squeeze.
TL;DR
- U.S. diesel prices have reached a record high of over $6.50 per gallon.
- The surge is driven by supply disruptions from the war in Iran and Ukrainian strikes on Russian refineries.
- War-related disruptions in crude oil markets are a key factor.
- Diesel powers significant sectors of the U.S. economy, including trucking, freight, farming, and delivery.
- Higher diesel prices are expected to increase transportation costs.
- Approximately 10% of U.S. service stations are now charging over $7 per gallon for diesel.