xThe national average price of diesel in the United States surpassed $6 a gallon for the first time ever on Thursday, according to fuel price tracker GasBuddy. The sharp increase comes as the U.S.-Israeli war with Iran and Ukrainian attacks on Russian refineries have tightened global fuel supplies and pushed crude oil prices higher.
Diesel is essential to the operation of trucks, trains, ships, heavy machinery and agricultural equipment, making the surge particularly significant for businesses and consumers. GasBuddy analyst Patrick De Haan warned that record diesel prices could raise the cost of transportation, deliveries and groceries while adding to inflationary pressures already affecting the U.S. economy.
Crude oil remains the largest factor driving fuel prices, with benchmark futures rising above $100 a barrel amid the escalating conflict. Brent crude settled at $107.63 a barrel on Thursday, while West Texas Intermediate reached $102.48. U.S. diesel prices have climbed nearly 60% since the United States and Israel launched attacks on Iran in late February, with disruptions around the Strait of Hormuz further tightening energy markets.
Global supply constraints have been compounded by Russia’s diesel export restrictions and repeated Ukrainian drone attacks that have taken some Russian refineries offline. Restrictions on Chinese fuel exports have also contributed to tighter supplies. In the United States, diesel inventories stood at 106.3 million barrels, about 13% below the five-year average, according to the Energy Information Administration.
Refining margins have also surged, with the U.S. diesel crack spread reaching a record $112.17 a barrel on Thursday, according to LSEG data. Energy analysts warned that rebuilding inventories could prove difficult as seasonal refinery maintenance begins. The White House said President Donald Trump remains focused on expanding U.S. refining capacity and increasing domestic energy production, while officials argue that maintaining control of the Strait of Hormuz could eventually help lower energy costs.
