A Middle East energy and shipping shock entering its third month is disrupting gasoline, diesel, lubricants and global freight as tanker traffic through the Strait of Hormuz falls amid escalating hostilities between the United States and Iran, attacks affect Saudi Arabia’s East-West Pipeline, and vessels avoid the Red Sea and Gulf of Aden. AAA put the U.S. national average for diesel at a record $6.505 per gallon after a September increase of more than 87 cents; European diesel reached €2.39 per liter, France reported shortages of at least one fuel product at 15% of roughly 9,900 stations, and U.S. Group III base-oil prices reached $12.45 per gallon, nearly four times February levels. Container freight rates have risen 201%, the Middle East-to-China TD3C VLCC rate reached a record $1,241,097 on September 18, and reduced shipping capacity, higher insurance and war-risk costs, weather disruptions, tighter inventories and borrowing costs threaten to extend transport inflation into 2027. Saudi Aramco has told at least two European refining customers it cannot meet some contracted crude volumes next month and canceled some deliveries scheduled for the end of this month, while 94 countries had fuel-cost support policies by early September, up from 56 four months earlier.