US Diesel Prices Near April Peak Amid Escalating US-Iran Conflict and Global Refining Disruptions

US retail diesel prices have climbed to $5.69 per gallon nationally, according to AAA data reported by Bloomberg and EIA-linked sources, placing them just below the April 2026 high and the highest levels since mid-2022.[1][2] This surge coincides with renewed tit-for-tat military actions between the US and Iran, including strikes around the Strait of Hormuz that have disrupted oil shipping corridors, as detailed in reports from The New York Times and Reuters.[3][4] Ukrainian drone attacks on Russian refineries have further constrained global fuel supplies, contributing to a reported drop in worldwide refinery runs of approximately 7 million barrels per day from year-ago levels, per Goldman Sachs analysis.[5][6] President Trump convened top US refining executives in a closed-door White House meeting to urge increased diesel and gasoline output ahead of November midterms, with discussions focusing on regulatory relief and capacity expansion, according to Bloomberg and Financial Times coverage.[7][8] The NYMEX heating oil/crude spread has widened significantly, reflecting acute product market tightness, while China holds potential spare capacity but shows limited incentive to alleviate Western shortages. These interconnected shocks—geopolitical, operational, and structural—highlight diesel's central role in supply chains and inflation risks.