U.S. Diesel Hits Record $6.43 a Gallon as Hormuz Disruption Keeps Oil Above $100
Updated
Updated · abcnews.com · Sep 18
U.S. Diesel Hits Record $6.43 a Gallon as Hormuz Disruption Keeps Oil Above $100
3 articles · Updated · abcnews.com · Sep 18
Summary
$6.43 a gallon marked the U.S. average diesel price Friday, holding near a record high in GasBuddy data as supply strains persisted.
Strait of Hormuz disruption after the February U.S.-Israeli attack on Iran, alongside the Russia-Ukraine war and Ukrainian strikes on Russian oil sites, has kept diesel and crude markets tight.
$4.47 regular gasoline is now up $1.53 since the U.S. war with Iran began, extending fuel-cost pressure beyond trucking into household budgets and travel.
31% higher heating-oil bills this winter are expected for affected households, while overall winter heating costs are projected to rise more than 8.7%, according to NEADA.
$103 Brent and $102 WTI were both slightly lower Friday, but crude still remained above $100 a barrel, sustaining broader inflation risks across the economy.
If alternative pipelines fail to offset the Hormuz disruption, what drastic measures will global markets take to survive $120 oil?
With global chokepoints under siege, how much higher will winter heating and grocery bills soar before supply chains completely snap?
Could hidden damage to undersea cables in the Red Sea trigger a global communications blackout alongside the current energy crisis?
Record Diesel Prices and the 2026 Strait of Hormuz Crisis: Global Economic and Political Fallout
Overview
The September 2026 energy crisis began with the outbreak of the U.S.-Israeli war with Iran, leading to escalating attacks on oil tankers and military retaliation. This triggered the blockade of the Strait of Hormuz, causing oil flows to collapse and crude prices to surge. As a result, U.S. diesel prices hit record highs, pushing up transportation costs and inflation. The crisis deepened as Houthi forces blocked Red Sea routes and a drone attack shut down Saudi Arabia’s key pipeline, further restricting global energy supplies. These disruptions rippled through supply chains, driving up consumer prices and fueling political and economic instability worldwide.