US diesel price surpasses $5 per gallon amid Iran war

SadaNews - Diesel prices in the United States have risen to over $5 per gallon for the first time since December 2022, amid the ongoing Iran war disrupting supplies, adding new pressures on broad sectors within the world’s largest economy.

The national average retail price reached $5.044 per gallon on Monday, according to data from the American Automobile Association (AAA), marking an acceleration in its price rise since the onset of the conflict. The war has virtually halted supplies of fuel, crude oil, natural gas, and fertilizers from the Arabian Gulf, with the Strait of Hormuz effectively closed to shipping traffic.

The flames of war sting the American consumer

Diesel is a vital artery for the shipping, agriculture, and construction sectors in the United States, and any spike in retail prices will reflect on the broader economy. Its price has risen at a faster pace than most other petroleum products, given that refineries in the Arabian Gulf are major suppliers of this fuel.

In some U.S. states, diesel prices have already exceeded the $5 mark. Likewise, heating oil prices - which is practically an equivalent alternative to diesel - have also risen above $5, according to the U.S. Energy Information Administration.

For President Donald Trump, a prolonged rise in fuel prices could pressure Republican chances in the midterm elections scheduled later this year.