The national average price of diesel in the US hit $6.505 per gallon on September 21, according to the American Automobile Association. This followed crossing the $6 threshold just ten days earlier, representing an increase of roughly 60% year-over-year. Disruptions to maritime transport through the Strait of Hormuz, linked to the US-Israeli conflict with Iran, along with Ukrainian operations targeting Russian refineries have constrained global supply. US diesel inventories have fallen to 106.3 million barrels, approximately 13% below the five-year average, threatening to fuel inflation ahead of the fall harvest season, a particularly energy-intensive period for the agricultural sector.
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