US Diesel Prices Hit Record Highs Amid Disruptions in Strait of Hormuz

The price of diesel fuel in the US has hit record highs, reaching an average of $6.05 per gallon on Friday, according to AAA.

This is a particularly bad time for many US farmers, who need diesel to power their equipment during harvest season for soybeans and corn.

Jason Kurtz, a 49-year-old corn and soybean farmer from Missouri, said he's paying twice as much for diesel this year compared to previous years.

Kurtz estimated that his combine uses 200 gallons of fuel per day, which will add up quickly during the 30-day harvest season.

The high prices are a result of disruptions to tanker traffic in the Strait of Hormuz due to the six-month war with Iran, which has driven up the cost of crude oil.