Diesel prices in the United States broke an all-time record on Friday, September 4, when the national average reached $5.85 per gallon. Anyone hoping that would mark the top didn’t have to wait long to be disappointed.
Just one day later, the record had already fallen, as the average price of diesel climbed another three cents on Saturday, September 5, extending a surge that has accelerated amid severe disruptions to global energy supplies.
According to AAA, the national diesel average now stands at $5.8819 per gallon, up from exactly $5.8500 yesterday. For comparison, diesel averaged $5.6046 a week ago, $5.3622 a month ago, and just $3.7123 at this time last year.
The consequences stretch well beyond owners of diesel pickups. Freight transportation, agriculture, construction, and other industries depend heavily on diesel, meaning higher fuel expenses can eventually work their way into the prices consumers pay for everyday goods.
Yesterday’s Record Lasted One Day
Friday’s $5.85 average had already surpassed the previous nominal national record set during the energy-price spike of 2022. Saturday’s $5.8819 figure has now pushed the benchmark even higher.
The speed of the recent increase is particularly striking. AAA’s figures show diesel has risen by nearly 28 cents per gallon in a week and roughly 52 cents over the past month.
Regular gasoline hasn’t followed exactly the same trajectory, as AAA lists today’s national gasoline average at $4.1459 per gallon, which is actually fractionally lower than yesterday’s $4.1474, making diesel’s continued rise even more notable.
The Iran War Has Disrupted Fuel Supplies
Diesel prices have surged since the war involving the U.S. and Iran began in late February, with disruptions around the Strait of Hormuz putting pressure on global oil supplies. The strategically important waterway normally handles roughly one-fifth of global oil exports, while damage to Middle Eastern refining infrastructure has added further pressure.
Supply problems aren’t limited to the Middle East, either. Ukrainian attacks have damaged Russian refining infrastructure, while Russia has halted refined-fuel exports through the end of September, tightening an already strained global market.
Expensive Diesel Eventually Reaches Everyone
Diesel’s importance to trucking and agriculture means its price eventually also affects households without a diesel vehicle in the driveway. Higher fuel expenses increase the cost of moving food, packages, building materials, and countless other products around the country.
The worrying part is that there is still no clear sign of sustained relief. With Friday’s record surviving for only 24 hours before being replaced by another, diesel prices are heading into the weekend moving in exactly the direction consumers and businesses don’t want to see.