HAVE U.S . DIESEL FUEL PRICES REACHED AN ALL - TIME HIGH THIS FALL ?

What happened: U.S. on-highway diesel prices reached a record high of $6.53 per gallon on Sept. 21, based on federal data going back to 1994. Key numbers: $6.53 per gallon on Sept. 21, a record. Diesel up 89% since January. Previous peak was $5.81 in June 2022. Why it matters: Economists link the jump to the U.S. war with Iran affecting crude oil supplies, while Russia's war with Ukraine has knocked some diesel refining capacity offline. Diesel is especially sensitive to supply problems because it costs more to produce.

U.S. on-highway diesel prices reached a record high of $6.53 per gallon on Sept. 21, based on federal data going back to 1994.

Economists link the jump to the U.S. war with Iran affecting crude oil supplies, while Russia's war with Ukraine has knocked some diesel refining capacity offline. Diesel is especially sensitive to supply problems because it costs more to produce.