US Diesel Retail Price Breaks Through $5 Per Gallon for Second Time in History

MaticHoleFiller · 2026-03-19T06:35:58+00:00

Due to industrial fuel supply tensions caused by Middle East conflicts, average US diesel prices have surged past $5 per gallon again. Economists warn this could slow global economic activity and impact consumers. The diesel supply chain has been severely disrupted, and measures taken by Trump and global leaders have had limited effect. Average gasoline prices have also reached record highs.

MaticHoleFiller

2026-03-19 06:35:58

Abstract generation in progress

According to data from fuel market tracking agency GasBuddy, due to the Middle East conflict causing supply disruptions of industrial fuels, the average retail price of diesel in the United States surpassed $5 per gallon for the second time on Monday.

Economists warn that soaring diesel prices could slow global economic activity, as diesel is a key fuel for manufacturing and freight transportation, and increased production and transportation costs will eventually be passed on to consumers. Rising fuel prices could also pose significant risks to U.S. President Trump, as his Republican Party prepares for the midterm elections in November.

GasBuddy data shows that the national average price of diesel exceeded $5 per gallon on Monday. The last time retail diesel prices surpassed this level was in December 2022, when the global oil market was still feeling the impact of the Russia-Ukraine conflict that erupted earlier that year.

The ongoing conflict between the U.S. and Iran has entered its third week, severely disrupting the global diesel supply chain, as the Middle East is a major supplier of diesel and the crude oil most suitable for diesel production.

Iran’s near-complete blockade of the Strait of Hormuz has affected 10% to 20% of global maritime diesel supplies. Additionally, a sharp decline in Middle Eastern crude oil flowing to Asian refineries has forced many refineries to cut production, further impacting global diesel supplies.

A series of measures announced by Trump and other world leaders, including record releases of oil reserves by developed countries, have so far had little effect in curbing the surge in fuel prices.

GasBuddy data shows that as of 6:10 p.m. Eastern Time on Monday, the average gasoline price across the U.S. was $3.76 per gallon, the highest since October 2023.

GasBuddy Petroleum Analyst Patrick DeHaan wrote in a blog post on Monday, “Unless we see a real recovery in oil transportation through the Strait of Hormuz, the pressure on fuel prices is likely to persist.”

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.