US diesel prices hit an all-time-high

What the report says

US diesel prices have reached a record high as the war involving the US, Israel and Iran continues to disrupt global energy markets, according to BBC World News. Citing American Automobile Association data, the BBC said the average price of diesel in the US climbed to $5.85 a gallon, well above the level a year earlier and higher than the previous peak seen after Russia’s full-scale invasion of Ukraine.

The BBC reported that fuel costs have risen since the Iran conflict began at the end of February, alongside a jump in wholesale oil prices. It said Iran’s response to the war has included effectively closing the Strait of Hormuz, a vital shipping route through which a large share of the world’s oil passes, helping tighten supply and lift prices at the pump.

The story said the price surge is adding pressure on American consumers and has become a political issue ahead of November’s midterm elections. It also noted regional differences within the US, with western states paying more than other parts of the country because of tax differences and distance from domestic oil production.

BBC World News also said President Donald Trump has promised to lower fuel prices through a new oil deal with Venezuela, although some analysts have questioned whether it would overcome long-standing barriers to investment in the country’s oil sector.