Diesel hit a record high of $6.51 per gallon, according to AAA cited on a Motley Fool podcast recorded Sept. 21, 2026. Podcast contributors say tight refining capacity makes quick relief unlikely, and that higher freight costs could feed into consumer prices with a delay.
Diesel prices reached a record $6.51 per gallon, according to AAA figures cited on the day of recording. That is up 76% from the same time a year earlier, host Jon Quast said on the Motley Fool Hidden Gems Investing podcast.
Why diesel reaches beyond drivers
Contributor Matt Frankel said trucking companies generally include fuel surcharges tied directly to diesel when they deliver goods. Tyler Crowe added that refined products across the board are way up, and that jet fuel sits around $200 a barrel, about two times its level before the Iran conflict.
Export ban offers limited relief
Senator Chuck Grassley has suggested banning diesel exports. Crowe said such a ban could bring a short-term swing, but he warned of unintended consequences, since the US exports about 5 million barrels per day of refined products and sends much of its gasoline and diesel trade to Europe. Europe could answer with its own export bans, he said.
Refining capacity adds to the squeeze. Crowe said Atlantic basin refineries, including East Coast and European plants, are running at 97% utilization, and that refineries knocked out in Russia are also affecting European fuel demand.
Inflation could build with a delay
Frankel said diesel can be more of a delayed fuse for inflation than gasoline or jet fuel, because companies resist passing on price increases until they can't. He pointed to transportation and warehousing services and truck freight transportation as two of the worst parts of the most recent inflation data.
Looking ahead, Frankel is watching food, airlines and construction, noting that airline fares are already up 23% year over year. Quast added that persistent inflation would make it hard for the Federal Reserve to lower rates.
Source: Motley Fool
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