Oil Prices Plummet Below $100 as Diesel Hits Record High

U.S. oil prices have dipped below $100 per barrel for the first time in months, while diesel fuel has reached an all-time high of over $6 per gallon.

This latest development marks a significant shift in the global energy market, with crude oil futures falling by 2% to hit their lowest level since September 2022.

The drop in oil prices is attributed to increased production levels and reduced demand, which has led to a surplus of supply in the market.