The price of diesel has risen much more quickly than gasoline as the U.S.-Israeli war with Iran has choked global oil supplies. That could have severe consequences for the diesel-dependent transportation industry.
Since the war began on Feb. 28, the average price of a gallon of diesel has gone up about 45 percent, while a gallon of regular gasoline has risen about 35 percent. The Energy Information Administration, a federal research agency, expects average diesel prices to peak at more than $5.80 a gallon this month. Gasoline, the agency said, would average $4.30 a gallon.
Why did diesel prices rise so quickly?
Even before the war, supplies of diesel were tight. That meant the world had little buffer when Persian Gulf countries — which produce a fair amount of diesel — were forced to slash exports. Adding to the challenge is that a lot of the oil produced in the region is especially suited for making diesel and the fuel that jets use.
“This is why diesel more than doubles, while gasoline basically moves up in tandem with crude,” said Joe DeLaura, a global energy strategist at Rabobank. “You have a shortage of diesel, you have a shortage of jet fuel, you have a shortage of fuel oil. Gasoline is relatively well supplied.”
Before the war, refineries in the Persian Gulf exported much more diesel and jet fuel than gasoline — and no other countries have the capacity to make up for that loss.
“You’ve lost that supply in a market that was already tight, and there’s no way to replace that,” said Jason Gabelman, an energy analyst at the investment bank TD Cowen.
https://www.nytimes.com/2026/04/23/business/energy-environment/iran-war-diesel-prices-gasoline.html