Diesel hits $5 as Middle East tensions squeeze US fuel supply
TL;DR Summary
US diesel prices rose to about $4.99 a gallon (roughly a 37% monthly jump) as Iran-related turmoil and Strait of Hormuz disruptions tighten global energy supplies. The squeeze raises costs for trucking and farming, risks higher consumer prices, and comes amid aging US refining capacity and limited new capacity.
- US diesel prices soar to almost $5 as Iran war pinches global supplies Financial Times
- 'A direct hit for consumer prices': Diesel surges past $5 a gallon NBC News
- Diesel tops $5 a gallon for the first time since 2022. Here's what it means for the economy. CBS News
- What $5 diesel fuel means for the U.S. economy Axios
- Diesel prices surge to $5 per gallon, highest since 2022, as Iran war disrupts global oil supplies CNBC
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