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US Diesel Prices Surge 70 Percent Despite Trump Supply Push
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CNBC TV18•09-10-2026, 16:06
US Diesel Prices Surge 70 Percent Despite Trump Supply Push
- •US diesel prices have risen 70 percent to average $6.28 a gallon following the start of the war with Iran.
- •President Donald Trump's efforts to boost supply through emergency reserves and tax exemptions have seen limited impact.
- •High fuel costs are putting political pressure on Republicans ahead of the November 3 midterm elections.
- •Industry experts note that geopolitical conflicts in the Arabian Gulf and Ukraine are driving the global fuel supply crunch.
Key Questions Answered
Average US diesel prices rose to $6.28 a gallon due to an unprecedented global fuel supply crunch triggered by ongoing wars in Iran and Ukraine.
President Donald Trump pressed allies to release emergency reserves and issued an executive order expanding access to tax-exempt red-dyed diesel through the end of the year.
Major retailers and marketers remain wary of selling red-dyed diesel because of unclear tax liabilities, logistical hurdles, and the risk of fines when trucks cross state lines.
