US Diesel Price Tops $6 a Gallon Amid Global Tensions

The US national average price of diesel has broken through $6 a gallon for the first time ever, according to data from GasBuddy. This milestone comes as global tensions escalate between the US and Iran, with Ukrainian attacks on Russia's refineries further squeezing supply.

Oil futures have risen in response, hitting their highest level since mid-May, with Brent settling at $107.63 a barrel and West Texas Intermediate futures settling at $102.48 a barrel. Analyst Patrick De Haan noted that this will increase costs for trucking companies, delivery services, and grocery runs.

Diesel inventories are currently 13% below their five-year average, with stocks rising last week as refiners operate at full capacity due to strong refining margins. The price increase is significant, up roughly $2.30 from a year ago.