US Average Diesel Price Exceeds $6 Per Gallon for First Time
4 sources across 3 countries · Brazil · Germany · United Kingdom
Who reported this
- CNN Brasil
- Folha de S.Paulo
- Der Spiegel
- Reuters
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
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The average price of diesel in the United States surpassed $6 per gallon on Thursday for the first time in history, according to data from the price tracking site GasBuddy. This price surge coincides with crude oil futures rising above $100 per barrel, with the global Brent benchmark closing between $107.63 and $109.29. Analysts attribute the supply reduction to the escalation of conflict between the US and Iran, including restrictions at the Strait of Hormuz, as well as Ukrainian drone attacks on Russian refineries.
GasBuddy analyst Patrick De Haan stated that the record prices will likely reignite inflation across the entire supply chain, affecting every shipment and delivery. Data from the US Energy Information Administration shows that diesel stocks are 13 percent below the five year average, totaling 106.3 million barrels. While US refineries have been operating at full capacity to fill the gap, experts suggest this pace may be difficult to sustain.
The economic pressure is occurring ahead of the November midterm elections. Center and center left sources note that the rising costs are a political liability for President Donald Trump and Republicans. One center left report specifically highlights a contradiction between these price increases and President Trump's campaign promise to halve energy costs.
How each side framed it
- Centre-left
- Emphasized the contrast between the current price hikes and President Trump's specific campaign promises.
- Centre
- Focused on the economic data and the general political pressure on the current administration.
Sources
- Centre CNN Brasil: Diesel price in USA exceeds US$ 6 per gallon for the 1st time
- Centre-left Der Spiegel: US fuel prices: Diesel costs more than six dollars for the first time in the USA
- Centre Folha de S.Paulo: Average price of a gallon of diesel in USA exceeds US$ 6 for the 1st time in history
- Centre Reuters: US average diesel price passes $6 a gallon for the first time, GasBuddy says - Reuters
100% of the statements in this article were traced back to the source articles listed above.