{"id":577617,"date":"2026-07-31T18:46:35","date_gmt":"2026-07-31T18:46:35","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/577617\/"},"modified":"2026-07-31T18:46:35","modified_gmt":"2026-07-31T18:46:35","slug":"multiple-wars-drive-up-the-price-of-diesel","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/577617\/","title":{"rendered":"Multiple wars drive up the price of diesel"},"content":{"rendered":"

Diesel fuel is in especially short supply right now \u2014 for factors geopolitical and otherwise \u2014 driving prices to $5.34 a gallon<\/a>, which is just about 50 cents shy of AAA\u2019s all-time record.<\/p>\n

While diesel prices may not be as visible to the American consumer as gasoline, high diesel prices certainly take their toll on the economy.<\/p>\n

There are a lot of layers to peel back when it comes to why exactly diesel fuel is in such a crunch right now. Of course, there\u2019s the underlying Iran conflict that is limiting diesel exports out of the Middle East<\/a>.<\/p>\n

\u201cDiesel was disproportionately affected, because diesel is one of the major refined products that is most exported out of the Middle East Gulf,\u201d said Will O\u2019Neil, principal analyst at S&P Global Energy. <\/p>\n

That tightened diesel markets. More recently, Ukraine struck Russian refiners<\/a>, and Russia is restricting exports. <\/p>\n

\u201cWe have lost \u2014 with Russia alone \u2014 10% of globally traded diesel supply,\u201d O\u2019Neil said.<\/p>\n

And there\u2019s more:<\/p>\n

\u201cSaudi Aramco<\/a> had to shut a pretty large refinery because of some damage caused by Houthi strikes<\/a>,\u201d said Abhi Rajendran, director of oil intelligence research with Energy Intelligence. <\/p>\n

It\u2019s a big confluence of things.<\/p>\n

\u201cI would argue, in the refined product markets, it’s almost gotten a little bit panicky,\u201d Rajendran said. <\/p>\n

And the market could get tighter, pushing prices even higher. <\/p>\n

\u201cDiesel prices could approach the all-time high of about $5.85,\u201d said Tom Kloza, chief energy advisor at Gulf Oil. <\/p>\n

Kloza said Americans are more gasoline-obsessed and care less about high diesel prices. But maybe they should care. <\/p>\n

\u201cOf everything that’s on the energy side that can be insidious to inflation, diesel is the biggest<\/a>, because not only do you move all sorts of goods across the country by virtue of trucking, you have all the marine vessels that use a form of diesel to move things from port to port,\u201d Kloza said. <\/p>\n

Ed Hirs, an energy fellow with the University of Houston, said the economy runs on diesel. <\/p>\n

\u201cThe grocery stores, the construction site out my window,\u201d Hirs said. <\/p>\n

So, those higher diesel prices get passed through quickly. <\/p>\n

\u201c[They get] passed through to the farmer, to the trucker \u2026 to the restaurant,\u201d he said. \u201cIt’s there, and it’s always there.\u201d <\/p>\n

And Hirs said those higher prices aren\u2019t going away anytime soon. <\/p>\n

Related Topics<\/p>\n","protected":false},"excerpt":{"rendered":"Diesel fuel is in especially short supply right now \u2014 for factors geopolitical and otherwise \u2014 driving prices…\n","protected":false},"author":2,"featured_media":577618,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,153331,113,243613,61,1095,151033,60,7912,2286],"class_list":["post-577617","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-diesel-prices","tag-economy","tag-houthi-rebels","tag-ie","tag-inflation","tag-iran-war","tag-ireland","tag-russia-ukraine-war","tag-war"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/577617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=577617"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/577617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/577618"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=577617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=577617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=577617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}