U.S. Diesel Prices Hit Record $6 Per Gallon Amid War Disruptions

The average nationwide U.S. diesel price hit $6.0556 per gallon on Friday, surpassing previous highs for the first time ever. This record marks a 63% increase compared to prices at this same time last year. Data from AAA confirms that truckers and farmers are paying significantly more to fill semis and tractors. Regional disparities remain significant, with California reporting $7.9827 per gallon due to state-specific supply constraints. The surge is directly tied to rising crude oil costs, which hit $100 per barrel on Thursday for the first time since May. Fuel prices have increased by approximately 20% in September alone. Bob McNally, president of Rapidan Energy, stated that diesel powers the trucks, trains, and ships moving goods to markets while also fueling agricultural machinery. He described it as the more insidious and costly fuel affecting food prices and consumer goods. Higher transport and energy costs are expected to impact the entire economy, including home heating and electricity generation in some regions.