Americas

US diesel prices top $5 per gallon for 1st time since 2022 as Iran war squeezes global oil supplies

Nationwide diesel prices surge 34% from pre-war levels, gasoline prices climb 27% to $3.79

Mucahithan Avcioglu  | 17.03.2026 - Update : 17.03.2026
US diesel prices top $5 per gallon for 1st time since 2022 as Iran war squeezes global oil supplies

ISTANBUL

US diesel prices rose above $5 per gallon Tuesday for the first time in more than three years, as the escalating war in the Middle East deepened the shock to global oil supplies, according to a motor group.

The national average price for diesel hit $5.04, up 34% from the day before the US and Israel launched a massive wave of airstrikes on Iran, according to data from the travel association AAA.

The jump pushed diesel prices to their highest since December 2022, when Russia’s full-scale invasion of Ukraine roiled global energy markets.

Diesel is a critical fuel for the US economy, powering trucks, trains and barges that transport goods across the country. Rising diesel costs can quickly feed through to freight rates and consumer prices.

Gasoline prices are also climbing sharply, with the national average already up 27% since the war began to $3.79, according to AAA. That marks the highest since October 2023.

Oil prices have surged more than 40% during the conflict. US crude was trading near $94 a barrel Tuesday, while Brent, the global benchmark, hovered around $101.

The rise has been driven by disruptions to tanker traffic through the Strait of Hormuz, the world’s most important oil chokepoint. Before the war, one-fifth of global oil supplies moved through the narrow waterway.

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