NEW YORK, March 16 : U.S. average retail diesel prices crossed $5 a gallon for only the second time ever on Monday as the war in the Middle East squeezes supplies of the industrial fuel, according to fuel markets tracker GasBuddy. The U.S.-Israeli war on Iran, now in its third week, has severely disrupted global diesel supply chains because the Middle East is a major supplier of both the fuel and the type of crude oil most suitable for its production. "Until we see a meaningful resumption of oil flows through the Strait of Hormuz, upward pressure on fuel prices is likely to persist," Patrick De Haan, head of petroleum analysis at GasBuddy, wrote in a blog on Monday.
Published at: 2026-03-16 22:55:47
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