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US Diesel Prices Reach Record Highs Amid Global Conflict

evening · · thread: Diesel Prices Surpass Jet Fuel in Europe Amid Growing Shortages

3 sources across 2 countries · United States · United Kingdom

Who reported this

  • MS NOW United States · Left · Versant (spun off from NBCUniversal)
  • Associated Press United States · Centre · Non-profit news cooperative
  • Financial Times United Kingdom · Centre · Nikkei Inc.

What the colours mean

  • Left
  • Centre-left
  • Centre
  • Centre-right
  • Right
  • A hatched block means the outlet is affiliated with, or controlled by, a state.

Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.

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Diesel prices in the United States have reached a record high, surpassing the previous peak set in June 2022. According to AAA, the average nationwide price hit $5.85 per gallon on Friday morning. The surge is primarily attributed to the war with Iran and the closure of the Strait of Hormuz, a passage for approximately one fifth of the world's oil. Additionally, Russian diesel export bans following Ukrainian attacks on refineries have contributed to the shortage. Because diesel fuels trucks, trains, and tractors, these costs are expected to increase transportation expenses and the price of goods, particularly groceries. Center leaning sources emphasize the resulting inflationary pressures ahead of the November midterm elections. A left leaning source further notes that the White House has downplayed these costs and highlights that diesel prices have risen by nearly 56 percent since the start of the war with Iran.

How each side framed it

Left
This source emphasized the administration's response to the crisis and provided specific percentage increases in fuel costs.
Centre
These sources focused on the record price levels and the broader economic impact on inflation and upcoming elections.

Sources

80% of the statements in this article were traced back to the source articles listed above.