Brief
U.S. diesel prices hit $6.31 a gallon as Iran war tightens supplies
National diesel price climbs to $6.31 a gallon while stockpiles fall and the Trump administration announces tax and purchase measures.
By Felo News Desk · Published
Diesel prices in the United States remain high, with the national average at $6.31 a gallon on Monday, according to the American Automobile Association, up from $3.63 a year earlier. The increase follows the Iran‑Russia war that began in February, which has pushed fuel costs across the country.
What happened
The Wall Street Journal reported that U.S. distillate fuel inventories were down 12 percent year‑over‑year in the second week of October, with East‑coast stocks falling more than 20 percent. The decline is expected to worsen as heating demand rises and refinery maintenance limits output.
What the reports add
Urban Institute economist Jon Schwabish noted that California, Colorado, Nevada, Montana and Illinois have seen the largest diesel price increases since the war began. State averages vary: California $8.49 per gallon, New York $6.50 per gallon.
What was said
Secretary of State Marco Rubio told the Independent, "I know diesel prices are high in the United States, but they’re really, really high in a bunch of other countries around the world," when asked about recent sanctions relief.
How it came about
President Donald Trump signed an executive order suspending a new sanctions package targeting Russia’s economy and announced a U.S. purchase of Russian diesel to help lower global prices. Congressional Republicans have proposed additional relief measures, but internal disagreements have slowed progress. Polls cited by the Independent show that more than half of respondents in an April Quinnipiac poll blamed President Trump for the price spike, while an October Politico survey indicated that lower gas prices would not significantly shift voter preferences.
Key facts
- National diesel price averaged $6.31 per gallon on Monday (independent.co.uk)
- U.S. distillate fuel inventories were down 12% YoY in the second week of October (independent.co.uk)
- President Trump suspended a sanctions package on Russia and arranged a purchase of Russian diesel (independent.co.uk)
- Secretary of State Marco Rubio said diesel prices are high in the U.S. and elsewhere (independent.co.uk)
- California diesel price reached $8.49 per gallon, the highest among listed states (independent.co.uk)
Sources
- [1] independent.co.uk — originally reported as “Diesel prices are still high - and reserves are running low as winter approaches”
