US Diesel Prices Soar to New Record Amid Global Energy Disruptions

Diesel prices in the United States have hit their highest level ever, according to AAA data. The national average reached $5.85 per gallon on September 4, surpassing the previous record set in June 2022 after Russia invaded Ukraine.

The price increase is largely due to disruptions in global energy supplies caused by the US and Israeli campaign against Iran. Tehran responded by instructing its military to disrupt traffic through the Strait of Hormuz, holding the global oil trade hostage.

Before the conflict, around one-fifth of all global petroleum moved through the waterway. Shipping is still below its pre-war level, pushing Brent crude above $95 per barrel.