Iran and Ukraine conflicts push US diesel above $6
The world's facing a diesel crunch that could stick around until 2027, mostly because of ongoing conflicts in Iran and Ukraine.
Disrupted supplies from the Middle East and Russia have pushed prices way up: US diesel even topped $6 a gallon this month for the first time.
Since diesel fuels everything from trucks to farms, this shortage is hitting plenty of industries hard.
US diesel stocks lowest since 1982
Diesel stocks in the US dropped to their lowest since 1982, while Europe and Singapore are also running below average levels.
Even though China has steadily increased refined-fuel exports in recent months, industry leaders are still worried.
With tensions high in the Middle East and possible Russian diesel export restrictions on the table, experts warn these shortages (and higher prices) could drag on through winter and beyond.