Story perspectives

U.S. diesel hits $6.23, stoking inflation fears

By Drooid · Sep 14, 2026, 2:48 PM UTC · How we work

Summary

Trump asks Zelenskyy

U.S. diesel price hit $6.23 per gallon, a new all-time high.
President Donald Trump asked President Volodymyr Zelenskyy to stop striking Russian diesel facilities.
Russia’s diesel export ban, imposed after Ukrainian attacks, ends end-September and may be extended.
KPMG chief economist Diane Swonk warned the 75% diesel price rise will fuel inflation for months.

Summary

NEADA seeks $3B

NEADA has asked Congress for an additional $3 billion in LIHEAP funding to offset soaring heating-oil costs.
The LIHEAP program received $4.1 billion for the fiscal year ending September 30, 2026.
Devon County Council reports 41,000 households face heating-oil price spikes up to £0.97 per litre.
Cornwall’s 34,500 oil-heat homes now pay over £1 per litre, up from 55p last year.

History

Historical Context

During the October 1973 OAPEC embargo, Saudi Arabia and other Arab OPEC members cut shipments to the United States, sending world crude from $3 to nearly $12 per barrel—a rise of roughly 300 percent. Nixon’s administration answered with gasoline rationing and the Emergency Petroleum Allocation Act. The episode showed how geopolitical supply shocks can trigger inflation, a pattern echoed in today’s diesel price surge.

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Trump asks Zelenskyy

U.S. diesel price hit $6.23 per gallon, a new all-time high.
President Donald Trump asked President Volodymyr Zelenskyy to stop striking Russian diesel facilities.
Russia’s diesel export ban, imposed after Ukrainian attacks, ends end-September and may be extended.
KPMG chief economist Diane Swonk warned the 75% diesel price rise will fuel inflation for months.

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