Diesel Prices at Some U.S. Gas Stations Hit Record Highs
Social media reports indicate that gas stations in places like Lewisville, North Texas, have posted "sold out" signs for diesel. In Orlando, Florida, some stations have marked diesel prices at 0.00, with pumps running dry; certain stations in California also show "diesel sold out" or prices like 9.99.
Industry data does not point to widespread supply shortages nationwide. GasBuddy analysts state that their monitoring and payment card data show no significant interruptions, and current shortages are within normal fluctuations. They warn against extrapolating single-store photos to suggest a nationwide crisis. Temporary fuel shortages at individual stations may be due to high local demand or delivery delays.
Prices have already broken records. The EIA reported the national average for highway diesel at $6.285 per gallon for the week ending September 14, up about $2.55 from approximately $3.74 a year earlier, an increase of about 68%. The AAA daily average has continued to rise, recorded at about $6.31 to $6.40, with California at about $8.35 being the highest among states, while Oklahoma and Texas remain relatively lower but still above $5.9. Florida's statewide average has also reached new highs of about $6.31 to $6.34.
Inventory structures are tight but not at depletion levels. The EIA states that distillate inventories are still about 13% below the five-year average and expects them to drop below 100 million barrels in September, maintaining a five-year low for most of 2027; East Coast inventories could be about 31% lower year-on-year, nearing record lows. Last week, distillate inventories saw a recovery of over a million barrels, but the buffer remains thin. During the same period, U.S. refinery utilization was about 96.8%, and gasoline inventories do not support the narrative of a "national fuel shortage."
Supply shocks stem from ongoing disruptions in the Strait of Hormuz, damage to Russian refineries, and restrictions on diesel exports, while the U.S. continues to export diesel. The trucking association states that trucks typically run about 500 miles per day, consuming approximately 60 to 70 gallons, which at current prices translates to daily fuel costs of about $450 to $500. Diesel prices at North Texas truck stops have been seen at $6.20 to $6.25.
From a market mechanism perspective, this is a case of price rationing occurring before physical shortages: what is being purchased are East Coast winter heating oil and interstate trucking fuel, while what is being sold is the panic-induced "nationwide sold out" narrative. Benefiting are those with remaining inventories, able to push crack spreads to record levels; under pressure are individual truckers, food and retail distribution, and regions like the East Coast with the shortest inventory days. Panic itself may turn localized shortages into a self-fulfilling prophecy.
Additionally, California has seen price tags and "sold out" signs appear earlier due to formula isolation and longer port windows; on a national level, it remains high prices clearing inventories rather than simultaneous depletion of storage.
Source: Public Information
ABAB AI Insight
The U.S. does not lack crude oil production; what is lacking are diesel molecules that can be immediately replaced after disruptions in the Strait of Hormuz and reduced Russian oil product exports. In 2022, the weekly average for highway diesel was pushed to about $5.81, and in 2026, it continuously broke records after war routes were closed. The EIA has indicated that distillate inventory paths will "drop below 100 million barrels and remain near five-year lows for most of 2027," effectively pre-acknowledging that the buffer layer has been depleted, leaving only high refinery utilization and export options, not strategic reserves that can be infinitely poured into truck stops.
Funds are first directed at crack spreads and regional basis rather than at each retail station. The U.S. continues to export about 1.5 million barrels per day of diesel, while domestic retail uses prices above $6 for rationing: exporters and Gulf Coast refineries benefit from global shortage premiums, while the East Coast and California see early signs of 0.00 and OUT due to pipeline, shipping schedules, and formula segregation. Truck stops are marking $6.20 as operational costs, with the next jump for food and building materials not at crude oil prices but at freight cost pass-through delays.
Comparing to the "Out of gas" stickers in the Northeast after the Colonial Pipeline attack in 2021 and the 2022 European diesel crisis: both were due to issues with channels or refineries, not oil wells shutting down. The current industry is in a phase of "high prices maintaining operations, localized stations running dry," and has not yet entered nationwide rationing. GasBuddy's push against the "complete supply interruption" narrative indicates that the speed of information dissemination has outpaced delivery trucks.
The structure reflects a shift in pricing power under the reconstruction of the supply chain. As the Strait of Hormuz, which used to account for about 20% of global oil transit, has turned into low single-digit flows, diesel, which cannot be directly replaced by shale oil wells, sees pricing power shift from domestic inventory days to strait navigation and Russian-European product trade. The mechanism is: crude oil can be rerouted and reserves released, while diesel molecules rely on refinery configurations and shipping schedules; once inventories fall below five-year lows, the retail end will first use high prices and individual dry pumps to complete rationing, rather than waiting for nationwide barrel counts to reach zero.
ABAB News · Cognitive Laws
Just because crude oil is sufficient does not mean diesel is sufficient.
Price rationing arrives earlier than empty pumps.
Once localized sold-out situations are treated as a national narrative, they will create their own shortages.