US Diesel Fuel Prices Hit Record High

NEW YORK, Sept 3 (Reuters) – Average U.S. diesel fuel prices jumped to record ​highs on Thursday, as a global supply crunch intensified. The national average price of diesel fuel hit $5.820 a gallon, according to fuel price tracking service GasBuddy. This beat the previous high of $5.819 a gallon recorded on June 17, 2022.

Diesel prices have remained above $5.00 a gallon since July 15 and 2026 is on track to be the most expensive year for diesel in U.S. history, according to analysts at GasBuddy.

Industry watchers warned that already-elevated prices could climb further as seasonal demand picks ⁠up. Farmers harvesting crops in the Northern Hemisphere, combined with preparations for planting in the Southern Hemisphere, are expected to boost diesel ​consumption in the coming months. Demand for heating oil, a distillate fuel similar to diesel, also typically rises ahead of the winter heating season.

Higher ​diesel prices can ripple through the broader economy because the fuel is widely used in trucking, agriculture, and industrial activity.