Russian refinery outages deepen record diesel price shock

  • Ukraine's drone strikes left an estimated 40% of Russia's refining infrastructure offline.
  • Russia's July diesel-export halt removed about 3% of global daily diesel supplies.
  • GasBuddy recorded U.S. diesel at $5.85 and regular gasoline at $4.14 Friday.

U.S. diesel reached a record nominal average of $5.85 a gallon after refinery disruptions in Russia and the Middle East tightened supplies of refined fuel. Marjorie Taylor Greene, the former Republican congresswoman from Georgia, renewed criticism of President Donald Trump, saying the Russia-Ukraine and Iran wars were raising diesel and gasoline costs and increasing prices for goods transported by truck. AAA data showed diesel averaged $5.60 a gallon on Aug. 31, below the June 2022 record of $5.816, before rising to $5.85. Greene cited a $5.82 national average in her Sept. 4 post. Diesel averaged $3.71 a gallon a year earlier and $5.64 in Georgia. The broader fuel shock reflects lost refining capacity, constrained shipping through the Strait of Hormuz, low diesel inventories and seasonal refinery maintenance, leaving freight, agriculture and consumer prices exposed to higher fuel costs.

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