U.S. gasoline and diesel prices surged Thursday amid geopolitical conflicts, with national average gasoline jumping to $4.44 per gallon and diesel hitting a record $6.40. Energy experts project further increases driven by reduced global refining capacity, ongoing wars in the Middle East and Eastern Europe, and attacks on critical oil infrastructure including Saudi Arabia's East-West pipeline.
Photos of isolated gas stations running out of diesel have circulated on social media amid record fuel price increases, but industry data shows no widespread shortages. Diesel prices have surged 68% year-over-year to $6.29 per gallon due to global supply disruptions from the U.S.-Israel war in Iran, which has blocked shipping through the Strait of Hormuz and reduced Russian production.