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The national average price of diesel skyrocketed 34.9 cents to set an all-time record of $5.509 a gallon, according to Energy Information Administration data released May 2.

Russia’s invasion of Ukraine has set off a global scramble for diesel, prompting buyers around the world to snap up massive volumes of fuel from the U.S. Gulf Coast despite high prices.

American Trucking Associations, in a letter sent to the White House, is urging the Biden administration to expand domestic oil and natural gas production.

President Joe Biden announced March 8 the U.S. is banning the importation of Russian oil as a direct response to Russian President Vladimir Putin’s decision to invade neighboring Ukraine, resulting in significant civilian casualties.

A slump in global diesel stockpiles has left the market vulnerable to price spikes.

Diesel markets are jumping everywhere, a positive indicator for oil prices more widely.

The national average price for a gallon of diesel continued on its downward trend as the end of the year approaches, dropping another 1.1 cents to $3.615 in the Dec. 27 weekly report provided by the Energy Information Administration.

The Biden administration sought to thread the needle between warring oil and renewable fuel interests Dec. 7 by proposing modest quotas for the use of plant-based fuels while moving to block exemptions for dozens of oil refineries.

A fleet of tankers laden with Russian diesel heading to the U.S. East Coast may help to alleviate the most expensive retail prices for the fuel in seven years.