Record Diesel Prices
Trump Blames Ukraine War For Record Diesel Prices Amid Supply Disruptions
Anonymous
Key Points
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A Ukrainian official told the Financial Times that Trump repeatedly emphasized “diesel, diesel . . . diesel” during his call with Zelenskyy, while another official said Trump wanted Russian fuel returned to global markets to lower prices. Ukrainian officials disputed Trump’s claim that Moscow and Kyiv had agreed to stop attacking each other’s energy facilities.
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The latest escalation included what Russian officials called the largest drone attack ever on Moscow; the assault reportedly set a major oil refinery ablaze, killed at least two people and involved 450 drones being shot down, according to Moscow Mayor Sergei Sobyanin.
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The diesel increase has been geographically broad: prices rose in every state during the latest week, with five states recording increases of more than 50 cents per gallon. Analysts also cited regional refinery problems in the Great Lakes as an additional source of pressure.
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AAA data cited in one report put diesel at $6.505 per gallon on Saturday, with prices rising more than 87 cents during the month and breaking the previous 2022 peak.
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The global oil-market impact extended beyond diesel: Brent crude was trading above $100 per barrel, while U.S. diesel had risen from roughly $3.76 per gallon before the Iran conflict to about $6.51, according to AAA.
National average diesel prices hit a record $6.529 per gallon for the week of September 21, according to Energy Information Administration, marking 11 straight weeks of increases and a $2.78 jump from a year earlier. President Donald Trump blamed Ukrainian attacks on Russian refineries for the spike and urged Ukrainian President Volodymyr Zelenskyy to stop targeting Russian energy infrastructure during a September 20 phone call.
The price surge stems from overlapping global disruptions: attacks on Russian refineries, Iran's closure of the Strait of Hormuz, and historically low U.S. diesel inventories at just 107.9 million barrels as of September 11—the lowest level for this time of year since 1982, according to EIA. Rising diesel costs threaten to increase expenses for trucking, agriculture, and rail industries ahead of the midterm elections.
Trump Pressures Zelenskyy Over Diesel Supply During UN Call
During their September 20 call before the UN General Assembly, President Trump repeatedly emphasized "diesel, diesel . . . diesel" to convince Zelenskyy to halt strikes on Russian fuel facilities, according to Financial Times reporting from Ukrainian officials. Trump wanted Russian fuel returned to global markets to lower prices. Ukrainian officials disputed Trump's claim that Moscow and Kyiv had agreed to stop attacking each other's energy infrastructure.
At the UN, Trump publicly endorsed a potential U.S. diesel export ban as part of his strategy to ease prices. Treasury Secretary Scott Bessent confirmed the administration is examining whether a full or partial fuel export ban is feasible, according to Seeking Alpha.
Largest Moscow Drone Attack Sets Russian Refinery Ablaze
Ukraine launched what Russian officials called the largest drone attack ever on Moscow on September 20, deploying 450 drones against the capital. Moscow Mayor Sergei Sobyanin reported 450 drones were shot down, at least two people killed, and a major oil refinery set ablaze by the assault, according to Middle East Eye.
The strike dealt another blow to Russia's already-weakened refining capacity. Russia has reduced refining output and imposed fuel-export restrictions, further tightening global diesel supplies and keeping prices elevated despite Trump's pressure campaign.
Record Diesel Spikes Hit Every U.S. State
Diesel prices rose in every state during the latest week, with five states recording increases exceeding 50 cents per gallon. Georgia hit $6.34 per gallon on September 19, nearly matching the record, according to AAA data cited in Hoodline. Gasoline averaged $4.48 per gallon nationally, up from $3.18 a year earlier.
Regional refinery problems in the Great Lakes added pressure to prices across multiple states. Brent crude traded above $100 per barrel as global supply chains struggled to absorb simultaneous disruptions from the Middle East and Ukraine conflict.
Analysts Dispute Trump's Focus on Ukraine as Primary Cause
Energy market analysts argue Trump's emphasis on Ukrainian strikes misattributes the root cause of the crisis. The International Energy Agency stated that while Ukrainian drone strikes hit a fragile market, the Strait of Hormuz closure remains the primary driver of the global diesel shortfall. Iran's blockade cut roughly 1 million barrels of Persian Gulf diesel exports per day.
Patrick De Haan of GasBuddy noted that sustained upward pressure will persist until Middle East shipping resumes. U.S. refineries are running near capacity, meaning domestic policy tools like an export ban offer limited relief and could worsen shortages in Europe and South America, according to analysts at the Atlantic Council.
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