US Average Diesel Price Rises To Record $5.90 Per Gallon

Average diesel prices in the United States climbed to a new record Monday, the motorists’ association AAA said, as damage to Gulf refineries during the war against Iran disrupted supplies.

The price of the fuel largely used in road hauling, agriculture and construction hit $5.9015, the AAA said, around 30 cents higher than the average just one week earlier.

Steep fuel price increases since the US and Israel launched attacks on Iran six months ago are putting pressure on President Donald Trump ahead of midterm congressional elections in November.

He has vowed to tackle higher costs of living, but the ongoing war against Tehran has severely impacted tanker shipments through the Strait of Hormuz, sending fuel prices higher across the board.

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Diesel cost just $3.71 on average a year ago, and the higher prices are squeezing farmers and truckers, which could be forced to pass on the increases to consumers.

Average prices for regular gasoline stood at $4.15 a gallon on Monday — when millions of Americans typically travel by car for the Labor Day holiday.

That is up from $3.20 on average a year ago. In western US states, prices are even higher, with regular gas costing $5.86 in California and $4.54 in Arizona, the AAA said.

AFP