NewzCHICAGO (AP) — Diesel hit a record price in the U.S. on Friday, soaring to an average of $5.85 a gallon for the first time as the six-month war with Iran disrupts the world’s flow of fuel.Because diesel is used for many freight and delivery networks, higher diesel prices mean higher transportation costs for a long list of everyday goods.This could add to Republicans’ political challenges ahead of November’s midterm elections, with voters already sour on President Donald Trump’s management of the economy. AP-NORC polling this summer showed 2 out of 3 U.S.
adults disapproved of how Trump is handling the economy.More expensive fuel is increasing bills for businesses across sectors — some of which have already passed on costs to consumers in the form of added fees on online orders and packages in the mail. And shoppers may see more and more sticker shock trickle down to store shelves.One of the most immediate strains is being felt in the grocery aisle, particularly with produce, meat and other perishable foods that need to be hauled in and restocked frequently — or even harvested using diesel-powered farm equipment. It can take time for all of those costs to trickle down.Still, experts warn that price hikes could mount the longer diesel remains expensive.
A range of other products are also transported by diesel trucks, trains and boats, including clothing, cosmetics, furniture and more.The price for regular gasoline has also been going up, although not as fast as the price of diesel. The average price was $4.15 a gallon, compared with $3.20 at this time last year, according to AAA, which says gas has never been above $4 a gallon on Labor Day.What’s driving the latest jump for dieselBefore the U.S. and Israel launched their war against Iran in late February, the national average for a gallon of diesel was about $3.76 in the U.S., per AAA.
Prices quickly climbed as the cost of crude oil — the main ingredient in diesel, as well as gasoline — soared amid supply chain disruptions and production cuts across the Middle East, notably with most tanker traffic bottlenecked in the key Strait of Hormuz.Despite prices cooling some during hopes for peace earlier in the summer, oil has now renewed its climb as fighting once more escalates between the U.S. Brent crude, the international standard, was trading at more than $95 a barrel Friday, up from roughly $70 befor… CHICAGO (AP) — Diesel hit a new record price in the U.S.
on Friday, soaring to an average of $5.85 a gallon for the first time ever as the six-month war with Iran disrupts the world’s flow of fuel.Because diesel is used for many freight and delivery networks, higher diesel prices mean higher transportation costs for a long list of everyday goods.This could add to Republicans’ political challenges ahead of November’s midterm elections, with voters already sour on President Donald Trump’s management of the economy. AP-NORC polling this summer showed two out of three U.S. Prices for regular gasoline, however, are far from the record of $5.02 a gallon set in June 2022.What’s driving the latest jump for dieselBefore the U.S.
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