The price surge follows a diplomatic deal to lift sanctions on Russian diesel and the implementation of domestic tax relief for dyed fuel. Analysts note that these tax breaks offer minimal benefit to trucking companies and that additional Russian volume is unlikely to ease costs in the near term, potentially keeping wholesale prices at $6 per gallon. These conditions put the US retail record of $6.53 per gallon at risk of being surpassed before the upcoming midterms.
Tuesday, October 20, 2026
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US Diesel Prices Surge toward $6.53 Record Despite Russian Deal
Commodities7 days ago
Wholesale fuel costs in Southern California increased by 40 cents per gallon on Oct. 13, leading a widespread series of price spikes across US markets. Rates in the Great Plains and Great Lakes rose between 25 and 30 cents per gallon, while the Gulf and East Coasts saw increases of 18 cents per gallon. US diesel futures climbed 2.1% to $4.8239 per gallon, reflecting a market that doubts incoming imports from Russia will alleviate currently tight global supply.
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