Diesel prices reach record highs across United States and Europe

Diesel fuel prices have hit record highs in the United States and Europe this September. In the US, the average price rose above six dollars per gallon for the first time, reaching $6.27. California prices went even higher, to $7.91 per gallon. In the UK, prices reached nearly 199.19 pence per litre, breaking the previous record. Many UK petrol stations charged at least £2 per litre.

Wars in Iran and Ukraine have cut supplies from major producers, including Russia and Saudi Arabia. US diesel stocks are about 15% lower than normal for this time of year. Higher diesel costs push up prices for transported goods, because trucks, ships, and farm vehicles all run on diesel. This means everyday products will cost more for consumers.