Diesel Price Surges to Record High Amid Ongoing Global Conflicts

The average price of diesel fuel has reached an all-time high, surpassing its previous record in June 2022, at $5.85 per gallon according to AAA.

The sharp increase is attributed to ongoing wars and conflicts, particularly the Iran war, which have disrupted global oil supplies and driven up prices.

Farmers, truckers, and freight companies are among those who will feel the pinch of higher diesel costs, as they absorb the increased expenses since the conflict began.

Diesel typically costs more than gasoline due to higher taxes, stricter environmental regulations, and lower production yields per barrel of oil.