The National wrote that US diesel reached 6.31 dollars a gallon this week and, citing the International Energy Agency (IEA), put US and Europe diesel above 220 dollars a barrel, about 95 per cent above pre-war levels. The IEA September Oil Market Report page said Atlantic Basin refining margins reached records in August, led by diesel cracks, while observed global oil inventories fell another 95 million barrels. The IEA report did not restate the 220 dollars a barrel figure.
The National wrote on 19 September 2026 that US diesel reached 6.31 dollars a gallon this week. The IEA September Oil Market Report page said Atlantic Basin refining margins reached records in August, led by sharply higher diesel cracks. The National also wrote that the US Energy Information Administration forecasts diesel will average 5.07 dollars a gallon in 2026.[1], [2]
The IEA page said observed global oil inventories plunged another 95 million barrels, with cumulative draws since February at 507 million barrels, about 2.8 million barrels a day. Oil-on-water volumes fell 65 million barrels as tanker traffic out of the Middle East came under renewed attacks. The National wrote that US Energy Information Administration (EIA) expects US distillate inventories to fall below 100 million barrels in September.[2], [1]
The National, citing the IEA, put US and Europe diesel above 220 dollars a barrel, about 95 per cent above pre-war levels. It wrote that Barclays analysts said Gulf and Russian refinery supply has been cut, leaving the United States a supplier of distilled products. The IEA report did not restate a 220 dollars a barrel diesel figure used by other outlets. Hong Kong diesel, The National wrote, is 4.695 dollars a litre, with 16 of the 20 dearest countries in Europe.[1], [2]
