Diesel Prices Reach Record High Exceeding $6 per Gallon

The national average price of diesel has surpassed $6 per gallon for the first time in history. According to AAA, the current average is $6.06 per gallon, a significant increase from the high watermark of $5.82 set in June 2022.

This surge in diesel prices comes on the heels of the US and Israel's strikes on Iran in February, which have led to a global supply chain disruption. The war between Russia and Ukraine has also contributed to the shortage, with the global fuel market losing about 8% of its diesel supply.

Refiners are struggling to keep up with demand, with Andy Lipow, president of Lipow Oil Associates, stating that 'we simply can't get any more diesel out of the system.'