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Diesel prices in the United States hit a new record high on Friday (September 11), with the national average reaching $6.06 per gallon, according to the latest data from AAA. This marks the first time diesel has crossed the $6 threshold, and experts warn the effects will ripple throughout the U.S. economy as fuel surcharges and transportation costs rise. The price is up more than 55% since late February, when the war with Iran began, and exceeds the previous record set in June 2022 after the Russian invasion of Ukraine.
The jump in diesel costs is driven by surging crude oil prices, which recently topped $100 per barrel, and a shortage of operational refineries. Many refineries in the Middle East and Russia have been damaged or limited by ongoing conflicts, while China has curbed its fuel exports to avoid domestic shortages.
Higher diesel prices affect nearly all sectors since diesel powers heavy trucks, freight trains, and farm equipment. This means higher costs for transporting goods, harvesting crops, and even running public transit. The costs are already being passed along to consumers, especially for perishable foods and goods that must be shipped long distances.
The increased cost of diesel is not just raising food and retail prices. Diesel is closely related to home heating oil, so households—especially in the Northeast—may soon face much higher heating bills.
Looking ahead, analysts expect diesel prices could climb even higher during the fall harvest and holiday shipping seasons, further increasing costs for both businesses and consumers.