U.S. fuel prices surge as Middle East disruptions lift crude; Trump rejects export limits

  • U.S. diesel reached a record national average of $6.27 per gallon on Tuesday.
  • U.S. diesel first exceeded $6 per gallon on Friday.
  • The Trump administration rejected fuel-export limits and examined refinery-capacity support.

U.S. diesel reached a fresh national-average record of $6.27 per gallon on Tuesday after first exceeding $6 on Friday, as the Iran war, disrupted Strait of Hormuz flows, attacks on energy infrastructure and refinery outages tightened fuel supplies. Gasoline was previously reported at $4.3163 per gallon, while crude rose to around $103.5 a barrel Tuesday; later readings put Brent at $108.16 and West Texas Intermediate at $103.86. The Energy Information Administration said Middle East production shut-ins reached 6.7 million barrels per day in August and global oil inventories fell by 400 million barrels this year. The Trump administration rejected fuel-export limits, instead backing higher U.S. production, LNG exports and potential Defense Production Act support for refinery capacity.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.