You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Diesel Fears Mount As Oil Heads Towards 6% Weekly Rise Diesel Fears Mount As Oil Heads Towards 6% Weekly Rise by Ship & Bunker News Team Friday September 4, 2026 Tweet Follow @shipandbunker Meanwhile, analysts say oil’s rally is "mostly mood and fear driven": File Image/Pixabay As oil on Friday headed towards a 6 percent weekly gain  but stubbornly maintained its daily downward trajectory despite military strikes between the U.S. and Iran showing no sign of letting up, all eyes were on record high diesel prices. On Friday, the American Automobile Association reported  that U.S. diesel prices at the pump reached an all-time high of $5.85 per gallon compared with an average of $3.71 a year ago. Claudio Galimberti , chief economist at Rystad Energy , explained, "All sectors of the economy are affected by diesel; this is one of the reasons why the government bond yields in the United States are so high, it's the expectation that inflation will continue to go up." “ We are pursuing various solutions...to completely bypass this blockade Mohsen Paknejad, oil minister, Iran Exacerbating the situation was the fact that diesel demand will grow in the coming weeks due to the harvest season for farmers and the holiday season for retailers, with the latter depending on more goods to be hauled by trucks for the holidays. As for oil itself, Norbert Rucker , head of economics and next generation research at Julius Baer , pointed out the irony that “there is no indication that this week’s escalation [of U.S./Iran hostilities] materially impacted exports out of the Middle East and tightened the oil market…Oil’s current rally seems most