U.S. Diesel Prices Hit Record High

Economy State of the Union: The Iran War has driven all energy prices higher, but diesel has been hit particularly hard. EL SEGUNDO, CALIFORNIA - APRIL 08: High gas prices are displayed at a Chevron gas station as an American flag flies on April 8, 2026 in El Segundo, California. California imports approximately 75 percent of its crude oil with nearly one-third of the crude supplied from the Middle East as prices at the pump in the state are averaging $5.93 per gallon today amid the war in Iran. (Photo by Mario Tama/Getty Images) U.S. diesel prices hit a record high on Friday, hitting $6.06 a gallon according to motorist group AAA. The price jumped from $5.98 on Thursday and $5.85 a week ago. The Iran war is the biggest factor in the surge in prices as crude oil traffic through the Strait of Hormuz continues to be limited. Subscribe Today Get daily emails in your inbox “This has been not a spike but a sustained grind higher,” the energy analyst Rory Johnston told the Financial Times. “We don’t really have anywhere near enough diesel on the market.” Farmers and the agriculture sector feel the brunt of the soaring prices. Diesel oil powers combines, tractors, and irrigation equipment. Businesses that rely on delivery services are also feeling the pain, absorbing higher freight costs inevitably passed onto the consumer. President Donald Trump has argued that the rising energy prices are a necessary cost to make sure Iran does not acquire a nuclear weapon. Speaking at the Republican midterm convention in Dallas Wednesday, Trump said “oil will be going down as soon as we win the war with Iran, which is taking place.”