Diesel prices are rising sharply as conflict in Ukraine and Iran tightens global supply, and analysts expect elevated prices to persist into next year. Trump’s pause on sanctions and deal with Russia is unlikely to bring immediate relief.
Follow the storyTrump19 stories
01Summary
- 01The International Energy Agency said diesel inventories are likely to remain strained until the second half of 2027.
- 02Trump said Russia would release 4.8 million metric tons of diesel, or nearly 36 million barrels, to the global market.
- 03Wholesale diesel prices have more than doubled from the start of 2026 to the end of September.
- 04In the US, the price of a gallon of diesel rose nearly 40% between 6 July and 22 September.
- 05Goldman Sachs said last week that diesel prices are likely to stay high through 2027.
02Why it matters
Higher diesel costs feed through to transport, farming and goods delivery, so they can affect prices across the economy. The story also matters because fuel costs are becoming a political issue ahead of the midterms.
Pulse AIAsk about this story
Answers are generated by AI from the story summary; they are not investment, health or legal advice.
