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Middle East Conflict Sends US Diesel Price Soaring

Guavy AI Editorial Team
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Oil
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The US diesel price has hit $4 per gallon for the first time in nearly two years due to the escalating Middle East conflict. The national average price of diesel jumped 14.7 cents from Tuesday, with AAA reporting the largest daily increase since March 2022.

Patrick De Haan, GasBuddy analyst, warned that prices could rise further, potentially reaching $4.25-$4.45 per gallon in the coming days.

The Middle East conflict has disrupted shipping in the Strait of Hormuz, a key global trade route, and affected distillate supplies due to crude oil from the region being more distillate-rich grades.

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