Global supply shortages are driven by Ukrainian drone strikes on Russian oil refineries and conflicts in the Persian Gulf. The Iran war has reduced Middle East diesel supply by an average of 770,000 barrels a day and restricted the availability of crude oil carriers. In response to the pressure on farmers, some Republican lawmakers have urged the US government to embargo diesel exports.
Tuesday, October 20, 2026
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US Retail Diesel Prices Top $6.50 a Gallon for First Time
Commodities30 days ago
Diesel fuel costs for U.S. consumers hit $6.505 per gallon, marking the highest price point in the nation's history. Live data indicates 10% of domestic stations are now charging at least $7.01 per gallon, while prices in Iowa are approaching $7 per gallon. This cost surge extends a war-driven rally impacting freight costs and economic inflation.
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