National

Closer

Axios Closer

Record diesel prices squeeze food, transport

Macro

Axios Macro

The rising energy cost dilemma

A line chart that tracks average U.S. retail diesel prices per gallon daily from Jan. 1 to Sept. 11, 2026. Prices ranged from a low of $3.4961 on Jan. 12 to a high of $6.0556 on Sept. 11. After a March surge above $5, prices eased in spring, then climbed again.

Average U.S. retail diesel prices

Inflation stays hot in August as Iran war drives energy costs higher

A line chart that tracks monthly year-over-year CPI changes from January 2021 to August 2026 for overall inflation and core inflation, excluding food and energy. Overall CPI rises from 1.4% to 9% in June 2022, then eases to 2.3% in April 2025 before climbing to 4.2% in May 2026.

Year-over-year change in Consumer Price Index

Data: Bureau of Labor Statistics; Chart: Courtenay Brown/Axios

Markets

Axios Markets

Higher oil and rates are set to test the markets

Moving up&nbsp;

Data: FactSet; Chart: Matt Phillips/Axios 

Diesel hits $6 a gallon for the first time, fueling more inflation

Inflation pressures build

A column chart that shows monthly change in the U.S. Producer Price Index from January to August 2026. PPI rose 0.58% in January, peaked at 1.09% in April, fell to -0.11% in June, then returned to 0.1% in July and 0.4% in August.

Change in U.S. Producer Price Index

Generate

Axios Generate

Energy Department hikes 2027 diesel price outlook

Oil's "new normal" is looking more expensive

Home heating oil bills are rising

U.S. benchmark heating oil futures price

Data: FactSet, Axios research; Chart: Axios 

Trump's energy boss wavers on gasoline price path

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