Forget gasoline: This overlooked fuel could raise the price of nearly everything you buy - Fox Business

What the report says

Fox Business reported that rising diesel prices, rather than consumer gasoline costs alone, could become a major economic effect of the U.S.-Iran conflict because diesel is central to freight, farming, construction and delivery networks. Citing U.S. Energy Information Administration data, the outlet said diesel averaged $3.56 a gallon in January 2025 and had risen to $5.13 since the conflict began.

The report noted that diesel is used across the supply chain, including in tractors, irrigation equipment, freight trains, heavy machinery and semitrucks carrying goods to stores and homes. Fox Business cited Department of Energy data indicating a loaded semitruck often travels about 6 to 7 miles per gallon, meaning a fill-up for roughly 250 gallons can now cost more than $1,280.

Bernard Yaros, lead U.S. economist at Oxford Economics, told Fox News Digital that diesel receives less public attention than gasoline but is a “workhorse” fuel for key sectors. He said he was particularly concerned about the effect of higher diesel costs on food inflation and grocery prices.

Fox Business also cited an unnamed energy industry source who linked much of the recent diesel market movement to the Iran conflict and the Strait of Hormuz, a key passage for global oil shipments. The report said disruptions there can tighten fuel supplies, and that refinery and production lags may keep elevated diesel costs moving through the economy even if crude prices later stabilize.