diesel News Updates

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.

According to estimates compiled by Bloomberg and double-checked with diesel traders, the Iran war has removed more diesel supply from the market than the Russia-Ukraine conflict.

The U.S. House of Representatives on Sept. 15 approved bipartisan legislation to reauthorize a program that aims to retrofit or replace older diesel trucks and engines.

Tom McLeod said the industry is riding a rate rebound driven by the winnowing of excess hauling capacity that had contributed to a four-year rate recession.

For businesses that rely on diesel, increased fuel costs are cutting revenue and forcing business owners to raise prices, as energy-driven inflation flows downstream.

Many U.S. farmers need diesel to power combines, tractors and other equipment to harvest two of the nation's largest commodities: soybeans and corn.

Higher diesel prices mean more expensive transportation for a long list of everyday goods. 

Higher futures prices for diesel, seen as the workhorse of the global economy, typically ripple through to the pump and stoke inflation.

The global refining sector’s diesel crunch is likely to result in tight supply for the coming months, keeping prices high and weighing on demand.

Labor Day traditionally portends a break for drivers. But this year, something unusual is happening: Prices are on the rise.