Texas Diesel Hits Record High Amid Global Energy Crisis
The global energy crisis is driving up fuel and motor oil prices for U.S. motorists.
Diesel in Texas has reached a record average of $5.8814 per gallon, surpassing previous highs, with multiple metropolitan areas also at or near all-time records, according to the American Automobile Association (AAA).
The national average price for regular gasoline has risen to $4.3289 per gallon on September 15th, while Texas regular gasoline averaged $3.8558, an increase from $3.6726 a week earlier and $2.7876 a year ago.
The disruptions in global petroleum supplies are primarily caused by conflict in the Middle East, which is affecting shipping routes and oil production. The International Energy Agency (IEA) predicts that global oil supply will decline by 5.7 million barrels per day in 2026 due to these disruptions.