Diesel Prices Hit Record High Amid Middle East Tensions
The national average price for diesel has reached an all-time high of $6.23 per gallon, while Oregon's average price is at $6.67. Crude oil prices have surged above $100 per barrel due to attacks on energy infrastructure in Saudi Arabia and disruptions in the Strait of Hormuz.
The national average price for regular gasoline has jumped 18 cents to $4.33 a gallon, while Oregon's average price is up by 10 cents to $5.12. These increases occur despite reduced demand and the switch to cheaper winter-blend fuel, which usually happens in September.
According to Marie Dodds, public affairs director for AAA Oregon/Idaho, 'Drivers typically see relief at the pumps this time of year as summer travel tapers off and stations switch to less expensive winter-blend fuel. But ongoing supply chain disruptions are pushing crude oil prices higher, which translates into higher pump prices.'
The conflict in Iran has significantly impacted gas prices, with the national average for regular gas increasing from $2.98 on February 28 to $4.33 today.