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A surge in shipping costs due to turmoil in the Red Sea is pressuring Europe’s diesel supply chain, contributing to a sharp jump in fuel prices.

Russia allowed a return to seaborne exports of diesel just weeks after imposing a ban that roiled global markets, taking other steps instead to keep sufficient fuel supplies at home.

New York is rising to the fore as an unlikely diesel supplier, shipping out three cargoes in one week as Russia’s fuel export ban sends buyers searching for new supplies.

The national average diesel price paused from its recent surge, falling back 4.7 cents to settle at $4.586 a gallon, according to Energy Information Administration data released Sept. 25.

Soaring diesel prices are likely to push more trucking companies out of business, especially smaller carriers, after casualties already spiked in the first two-thirds of the year.

The diesel market is pricing in a crisis, one that soon could get even worse because of a lack of the type of crude that’s good for making the fuel.

The Environmental Protection Agency recently announced that $115 million has been directed for the Diesel Emissions Reduction Act program.

After switching to Mobil Delvac™, BSA Trucking was able to extend oil drain intervals from 30,000 miles to 75,000 miles. As a result, BSA Trucking had less maintenance, kept their trucks on the road longer and increased productivity.  

Kansas will be able to train more diesel technicians with a new $1.2 million grant from the U.S. Department of Commerce’s Economic Development Administration.

“Diesel demand can act as a leading indicator for broader growth as an early sign that spending by households is waning,” said one expert.