Record diesel prices threaten Thanksgiving food costs and deepen pressure on Trump

  • Diesel prices are raising transportation costs for Thanksgiving food and other consumer goods.
  • Diesel averaged $6.52 a gallon Wednesday, up from $5.60 one month earlier and $3.69 last year.
  • USDA economists raised the projected 2026 wholesale turkey price above $1.74 per pound.

Record diesel prices are beginning to pressure the U.S. food supply chain, threatening higher costs for Thanksgiving staples even as Republicans face voter backlash over the nearly seven-month Iran war and Strait of Hormuz disruption. AAA put the national average diesel price at $6.52 a gallon Wednesday, up from $5.60 a month earlier and $3.69 a year earlier. Transport costs for commodities including soybean meal and corn have risen 5 to 7 cents per bushel since August, a premium of at least 5% that could reach retail prices in about 45 days. USDA economists raised their projected 2026 wholesale price for a frozen whole hen to more than $1.74 per pound, compared with $1.70 in August and about $1.35 last year; a 16-pound turkey at that estimate would cost almost $28. Higher costs could also affect fresh meat, dairy, produce and pumpkin pie ingredients, although the pass-through to grocery prices has so far been limited. The fuel surge has been linked to Middle East tensions, slower shipping through the Strait of Hormuz and Ukrainian drone attacks on Russian refineries, while President Donald Trump is considering a ban on U.S. diesel exports. Republican support for the Iran war is weakening, with polls showing declining approval of Trump’s handling of the conflict and broad concern about its economic costs.

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