Diesel has hit a record high above $6.50 a gallon nationwide, and that is bad news for truckers, farmers, and anyone who buys groceries or plane tickets.

• Owner-operator truckers now pay over $1,000 per fill-up, wiping out already-thin profits and pushing some to quit driving.
• Farmers are hit from every side at once: high diesel, tariffs, expensive fertilizer, high interest rates on equipment loans, and weak crops after a hot, dry summer.
• The root cause is the Iran war, which shut down shipping lanes and knocked out foreign refineries, leaving US refineries running at full capacity with no room to make more fuel.
• Jet fuel is also at crisis levels, sending airfares soaring, and shortages are spreading to motor oil, with Costco rationing sales and prices doubling.
• Senator Chuck Grassley wants Trump to ban diesel exports, which would cut US prices short-term but leave allies like Japan and South Korea without fuel and could wreck the US oil industry long-term.

Outlook: Diesel prices will likely keep climbing until the war ends, and a Trump export ban ahead of the midterms looks increasingly likely despite the damage it would do abroad.