U.S. diesel prices hit a record $6.45 a gallon, raising pressure on consumer costs
The U.S. average diesel price reached a record $6.45 per gallon this week, up 74% from a year earlier. Oil flows through the Strait of Hormuz averaged 7.6 million barrels a day in August, 13.1 million barrels below the August 2025 average. With about three-fourths of the nation’s commercial trucks running on diesel, higher fuel costs are expected to filter into retail food prices. Global daily oil supply has fallen by about 7 million barrels since early 2026.