Commodities
Diesel Prices Hit Record High Amid Ongoing Conflicts
The average price for a gallon of diesel reached a record high of $6.43 as of Friday morning, according to GasBuddy data.
This historic increase in diesel prices comes amid continued disruption in the Strait of Hormuz and Russia's ongoing invasion of Ukraine.
Oil prices edged lower but remained above $100 a barrel on Friday, with Brent crude oil trading at around $103 per barrel down 1.3%.
The sustained increases in oil and diesel prices have prompted concerns of rising costs across all sectors of the economy, from fuel and energy costs to increased prices of food and travel.