Diesel Prices Hit Records

By Halfpoint @ Adobe Stock

Diesel fuel prices in the United States are hitting record highs in response to constrained global supplies. The wars in two of the world’s most important energy-producing regions, Russia and the Persian Gulf, have led to disruptions in global energy markets.

You can see on the chart below that diesel prices in Los Angeles, CA have climbed to $5.46/gallon, and in many areas of the country, prices are much higher.

ValveRide Flow, a software company that helps truckers find the best diesel prices, estimates that the national median price for diesel at truck stops across America today is $6.37/gallon. At the higher end, it’s $6.80/gallon.

There are even reports of stations without diesel fuel. A user on X.com with the handle @intelsphere posted photos of two stations, one in Texas and one in Florida, with no diesel.

Action Line: Shortages and high prices of diesel can hit agriculture, industrial, and transportation businesses hard, not to mention the many homeowners who use heating oil (not much different from diesel) to heat their homes in the winter. It’s a good time to check on your home heating oil supply and your business’s access to diesel from your supplier. And consider putting some power away in your pantry. And click here to subscribe to my free monthly Survive & Thrive letter.