🇺🇸 U.S. diesel just hit an all-time record of $6.50 a gallon, and the rest of the world is about to feel it. It's jumped more than 80 cents in September alone, blowing past the 2022 record set after Russia invaded Ukraine. Fighting around Hormuz is choking shipments by sea, and Ukraine's strikes on Russian refineries have knocked out a chunk of exports, right as trucking and harvest season pick up. Diesel moves the trucks, ships and tractors that carry food and goods everywhere, so freight costs, import prices and inflation are next in line well beyond the U.S. When even the world’s biggest oil producer is paying record prices at the pump, countries that import every drop are looking at a rough few months ahead. Source: @Barchart / Writer: Daniyal