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Diesel Prices Likely to Remain Elevated Through Spring 2027, Fuel Executives Warn

Trucking operators should prepare for sustained high diesel costs through at least spring 2027, industry leaders cautioned Tuesday at the WEX OTR Summit in Jacksonville, Florida. Chuck Ryan, president and CEO of AMBEST, a nationwide network of independent truck stops and service centers, said geopolitical conflicts, refinery constraints and limited pipeline capacity continue to restrict fuel supplies. Even if global crude prices fall, diesel at the pump will likely remain elevated for several months, Ryan stated. "I don't see it coming down until spring, and that's if things start to work out on the war front," he told FreightWaves. Ongoing conflicts involving Iran and Russia's war in Ukraine have disrupted energy supplies globally, while U.S. refining and transportation infrastructure faces bottlenecks. The nation operated more than 300 refineries in 1980 compared with approximately 128 today, Ryan noted. Terminal capacity limitations further constrain the ability to respond to supply disruptions. Panelists from Circle K, Maverik and Dow Jones Energy discussed fuel volatility and its impact on the trucking industry at the summit, moderated by Will Bowen, senior director of merchant services at WEX.