US Diesel Prices Hit Record High

United States (US) diesel prices have hit a record $6.2694 per gallon, putting pressure on President Donald Trump before the midterm elections.

According to an AFP report, the American Automobile Association (AAA) said the average price reached the new high on Tuesday, driven by tighter fuel supplies linked to the Middle East war and Ukrainian strikes on Russian refineries.

Diesel is widely used in road transport, agriculture and construction, making the price surge a major concern for businesses and consumers.

US Diesel Prices Hit Record High (NewsCentral TV) — US President Donald Trump. Credit: BBC.

The term “crack spreads” refers to the difference between crude oil prices and the prices of refined petroleum products.

US diesel prices crossed $6 per gallon for the first time on Friday, rising sharply from $3.7577 per gallon when the US-Iran war began.

The latest price is also above the previous record of $5.8159 per gallon recorded in June 2022, months after Russia’s invasion of Ukraine.

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Deborah Akwa

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