US Diesel Prices Rise Past $6 a Gallon for First Time Ever
AAA said diesel’s record surge could raise shipping, grocery and farm costs as crude prices top $100 a barrel.
- On Friday, the U.S. national average diesel price reached $6 per gallon for the first time in history, according to GasBuddy data, marking a record high that surpasses the previous $5.82 record set in June 2022.
- Conflict between the U.S. and Israel against Iran, coupled with Ukrainian attacks on Russian refineries, disrupted shipping through the Strait of Hormuz, which previously carried roughly one-fifth of global oil supply.
- Energy Information Administration data shows U.S. diesel inventories stand 13% below their five-year average, while Andy Lipow, president of Lipow Oil Associates, noted the world has lost nearly 8% of its diesel supply.
- GasBuddy analyst Patrick De Haan warned that record diesel prices will "reignite inflation up and down the supply chain," with the spike already costing Americans more than $46 billion since the war in Iran began.
- Rising fuel costs create a political headache for President Donald Trump and Republican lawmakers as they defend thin congressional majorities in November's midterm elections, with analysts expecting these costs to reach consumers over the next several weeks.
375 Articles
375 Articles
Diesel Prices Surpass $6 For The First Time [Op-Ed]
Source: Maxwell England / Getty Diesel prices have hit another record, with the national average price surpassing $6 on Friday. NPR reports that diesel prices are currently $6.05, up from $5.85 last month and significantly higher than the average price of $3.70 this time last year. President Donald Trump promised no new wars and lower prices during his campaign, then turned around and started a new war that increased prices. Fuel prices have be…
Diesel tops $6 a gallon in Richmond, as inflation ticks up
Diesel prices topped $6 a gallon in Richmond and other parts of Virginia on Friday, while inflation ticked up because of rising costs for energy and housing, setting the stage for a likely increase in interest rates by the Federal Reserve Board next week.
Coverage Details
Bias Distribution
- 59% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
