US diesel prices surpass $6 a gallon for first time as oil hits highest since May
Middle East Eye
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Middle East Eye
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US diesel prices have surpassed $6 per gallon for the first time ever, driven by intensified US-Israeli military operations against Iran and Ukrainian attacks on Russian oil refineries. The sharp fuel price spike adds fresh inflationary pressures on consumers and businesses, creating political headaches for the Trump administration ahead of November's midterm elections.
The US national average price of diesel on Thursday surpassed $6 a gallon for the first time ever, according to price tracker GasBuddy, as the US-Israeli war on Iran and Ukrainian attacks on Russia’s refineries have squeezed supply.
The latest surge in fuel costs is adding to inflationary pressures that have already strained consumers and businesses this year, creating a political headache for President Donald Trump and Republican lawmakers as they seek to defend thin congressional majorities in November's midterm elections.
Crude oil futures on Thursday hit their highest level since mid-May. Brent settled at $107.63 a barrel and West Texas Intermediate futures at $102.48 a barrel.
The latest surge in fuel costs is adding to inflationary pressures that have already strained consumers and businesses this year, creating a political headache for President Donald Trump and Republican lawmakers as they seek to defend thin congressional majorities in November's midterm elections.
Crude oil futures on Thursday hit their highest level since mid-May. Brent settled at $107.63 a barrel and West Texas Intermediate futures at $102.48 a barrel.
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Source: Middle East Eye
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