Diesel prices exceed $5 per gallon for the first time since 2022

U.S. diesel prices surged to $5.04 a gallon, the highest since December 2022, driven by disruptions in global oil supply due to the ongoing war with Iran. The conflict has impacted oil operations in the Middle East and shipping through the Strait of Hormuz, prompting discussions of military escorts for vessels. Rising diesel costs may lead to increased transportation expenses, affecting consumer prices and industries reliant on diesel, including trucking, farming, and construction.

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