Diesel desperation is mounting globally

The global diesel market is becoming more precarious due to the Russia-Ukraine war and the Iran crisis squeezing supply. The average U.S. price is up 44 cents over the last month to $5.32 per gallon, compared to $3.71 a year ago. S&P Global estimates refineries processed 7.5 million barrels per day less crude last month than in 2025.