US EditionDiesel prices rise to $5.04 per gallon amid Iran's blockade
Diesel prices have surged 38% since early March, straining trucking, farming, and construction industries and prompting fuel surcharges by major carriers, AAA data shows.
- On Wednesday, U.S. diesel averaged $5.04 per gallon, threatening truckers' livelihoods as prices rise amid Middle East conflict, AAA said.
- Disruptions to the Strait of Hormuz, which handles 20% of global oil flows, are driven by the Middle East conflict, and GasBuddy's Patrick De Haan said, 'it's really something you can't predict.'
- AAA notes the national average climbed about $1.28 since March 2, with diesel rising 34% since March 1 and Flying J in Woodhaven reaching $5.09 per gallon.
- Effective Monday, UPS and FedEx raised fuel surcharges, with UPS moving to a 25.5% ground surcharge and a 26% air surcharge while FedEx added demand surcharges up to $0.50 per pound, passing costs to consumers and businesses.
- Farmers and rail companies face immediate budget stress as diesel climbs, risking wider inflation since diesel fuels more than 99% of U.S. railcars and can cause a 5%–10% rise in staple costs.
29 Articles
29 Articles
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Surging U.S. diesel prices stoke concerns over inflation
(The Center Square) – Surging prices for U.S. diesel fuel are stressing the budgets of consumers, governments and industries from trucking, railroads and air travel to agriculture and medical supplies, energy market experts say.U.S. diesel prices have risen almost 38%…
Diesel tops $5 a gallon for the first time since 2022. Here's what it means for the economy.
U.S. diesel prices jumped above $5 a gallon on Tuesday, marking the highest level since December 2022, as the strain on global energy markets from the war with Iran continues to ripple through the American economy. Diesel prices reached $5.04 a gallon, up from $4.78 a week ago and from $3.65 over a month ago, according to data from AAA. Diesel prices are rising as the war in the Middle East constrains the world’s oil supply and drives up prices …
Diesel Prices Soar Above $5 a Gallon as Hormuz Crisis Sends Shockwaves Through the U.S
As the crisis in the Strait of Hormuz escalates, U.S. diesel prices have surged past the alarming threshold of $5 per gallon, sending shockwaves across the American economy. This sharp increase in fuel costs, highly influenced by instability in key oil-producing regions, is putting additional pressure on consumers and businesses alike. With crude oil prices [...]
The price of diesel in the United States exceeded $5 per gallon for the first time since December 2022, which is the most recent sign of the growing pressure on fuel prices that threatens the world economy, as the war in Iran continues to disrupt energy supply.According to the American Automobile Association, the average domestic retail price reached $5,044 per gallon on Monday, an increase of more than a third since the conflict began. The pric…
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Diesel prices rise to $5.04 per gallon amid Iran's blockade
Diesel fuel prices have surged to an average of $5.04 per gallon nationwide. This increase is a consequence of rising crude oil prices due to Iran's blockade of the Strait of Hormuz.
Diesel prices surge to highest levels since 2022, squeezing Metro Detroit truck drivers hard
Diesel prices have surged to a national average of $5.04 per gallon, and truck drivers in Metro Detroit say the rapid spike is threatening their livelihoods. Watch Carli Petrus's video report: Diesel prices hit Metro Detroit truckers hard amid national surgeAAA spokesperson Adrienne Woodlands said the national diesel average has climbed about $1.28 since March 2, reaching levels not seen in years."Just to put it into perspective, that $5.04 a ga…
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