Diesel Near $5 Amid Iran Conflict Tightening Global Fuel Supplies
US diesel prices climbed to about $4.99 a gallon—roughly a 37% jump in a month—as the Iran war and the Strait of Hormuz blockage tighten global energy supplies, raising costs for transporting goods and farming and risking broader consumer price pressures; analysts say the rally could persist due to limited refining capacity and aging U.S. refineries.