Commodities
US Diesel Price Hits All-Time High Amid Ongoing War with Iran
The price of diesel in the US has hit an all-time high of $5.85 per gallon amid the ongoing war with Iran, surpassing the previous peak set in June 2022 after Russia invaded Ukraine.
Diesel, primarily refined from crude oil in the US, powers heavy machinery, buses, trains, and large trucks, leading to increased transportation and production costs for various products, including groceries.
The price hike comes weeks ahead of the congressional midterm elections in November, where the war with Iran remains unpopular among US voters, and the cost of living has become a top electoral issue across the country.