Diesel Prices Soar to Record High Amid Global Supply Disruptions

The national average price for diesel hit an all-time high of $6.51 per gallon on September 21, 2026, according to AAA data.

Economist Steve Hanke warned that farm fuel costs have risen by $11 per acre for corn and $7 per acre for soybeans compared to last year, increasing costs for the domestic agricultural sector.

Commodity strategist Giacomo Prandelli noted that Saudi Arabia's crude oil export routes are currently compromised due to a drone attack on September 10, which has resulted in traffic through the Strait of Hormuz dropping to four vessels on Monday, down from an average of roughly 125 pre-war.