[Stay on top of transportation news: Get TTNews in your inbox.]
Diesel tops $6.50 a gallon as wars worsen global crunch
Trucking's main fuel has gained more than 87 cents so far this month
A truck driver refuels with diesel fuel at a Chevron truck stop in Tracy, Calif. (David Paul Morris/Bloomberg)
Key Takeaways:
- U.S. retail diesel prices reached a record $6.505 a gallon as of Sept. 19 after accelerating gains throughout September.
- Diesel supplies remain constrained by the U.S.-Iran war, reduced Strait of Hormuz shipments and Russia's export ban amid continued refinery attacks.
- Officials debate responses as export curbs draw speculation, while analysts note inflation-adjusted diesel prices remain below 2022 highs.
U.S. retail diesel prices topped $6.50 a gallon for the first time, extending a war-driven rally that’s rippling through the economy.
Average nationwide prices rose to $6.505 as of Sept. 19, according to the American Automobile Association. The pace of increases has accelerated in September — gaining more than 87 cents so far this month — with prices rising almost every day and surging beyond the peak set in 2022.
Global supplies of the workhorse fuel have been squeezed by the U.S.-Iran war, with shipments through the vital Strait of Hormuz still curtailed. Meanwhile, cargoes of crude oil from the region haven’t fully recovered to pre-war levels, limiting production of fuels from refineries elsewhere in the world.
In addition, Russia has banned most exports of the fuel, and may extend that curb through October, with Ukrainian drone strikes continuing to pound the country’s processors. At the weekend, the Moscow Oil Refinery was hit in an attack that was part of the largest overnight barrage this year.
Most U.S. drivers don’t pump diesel into their cars. But the fuel — which goes into trucks, agricultural equipment, power generators, boats, trains, and home-heating systems — touches nearly every part of the economy.
With midterm elections looming, record diesel prices could erode support for President Donald Trump’s Republican Party in agricultural states like Iowa, as well as states that depend on home-heating oil such as Maine.
JUST IN 🚨: Diesel hits $6.50/gallon for the first time in history 📈 📈 pic.twitter.com/xBSpi6hYcW
— Barchart (@Barchart) September 21, 2026
Still, there’s some solace for truck drivers and consumers, even if it might not feel like it. On an inflation-adjusted basis, prices are still below their 2022 highs, according to the Institute for Progress, a Washington-based think tank.
The surge in diesel at the pump has spurred speculation the Trump administration may resort to export curbs to keep fuel at home. Still, Interior Secretary Doug Burgum, who leads the president’s National Energy Dominance Council, has said that a U.S. ban on shipments wouldn’t bring down prices.
