The overlooked Russia-Ukraine war grows its outsized impact on energy as U.S. diesel prices hit all-time high | Fortune

Diesel prices in the U.S. hit a record $5.85 per gallon on Friday, reflecting growing knock-on effects from Russia’s four-year war in Ukraine on global refining capacity. The conflict has disrupted oil flows around the Black and Caspian seas and affected pipelines and terminals, but the biggest driver is Ukraine’s long-distance drone campaign against Russia’s refining network. An estimated 40% of Russia’s refining infrastructure is now offline, and Russia has cut diesel exports, removing about 3% of daily global diesel supplies. GasBuddy also says regular gasoline averaged $4.14, the highest ever entering Labor Day weekend. With no fuel reserves comparable to crude stocks, higher diesel costs ripple into inflation through trucking and farming.