- US diesel prices have climbed back above $5 per gallon as geopolitical hostilities in the Middle East raise concerns about war-induced inflation.
- The fuel market has tightened significantly following a confrontation between the US and Iran, alongside a Russian ban on diesel exports enacted after Ukrainian strikes on refineries.
- Rising wholesale costs are being rapidly passed through to consumers at the pump.
Quotes
“American drivers are once again paying more than $5 a gallon for diesel, with a fresh round of hostilities in the Middle East raising the specter of more war-induced inflation.”