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California diesel reached $7 per gallon as Ukrainian attacks on Russian refineries and Hormuz disruption tighten global diesel supply. Prices are about 30 cents higher than a month ago and $1.89 above last year, and the US average is $5.50.
Diesel rising into harvest and holiday freight season increases transport and fuel surcharge costs for grain and feed movements.
cnbc.comSpencer KimballAug 19, 2026After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
