US diesel prices set record at $5.85 a gallon on average
AI Market Summary
U.S. diesel prices hitting a record $5.85/gal alongside Brent crude above $95 signals an acute refined-products squeeze tied to Iran-war-driven supply disruptions and Strait of Hormuz bottlenecks. Elevated diesel costs pressure freight, food supply chains, and logistics surcharges, reinforcing inflation risks and challenging margins across transport-intensive sectors. Tightening physical stocks and refining constraints raise sensitivity to further geopolitical escalation in energy markets.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-3.34%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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The average U.S. diesel price topped $5.85 a gallon for the first time, setting a record high. A six-month war with Iran has disrupted global fuel flows, pushing Brent crude above $95 a barrel. Diesel averaged about $3.76 a gallon before the war and $3.20 a year earlier. The previous peak was nearly $5.82 in June 2022, driven by the war in Ukraine and sanctions on Russia.
