US diesel prices hit an all-time-high

American drivers are currently paying the most for diesel fuel in U.S. history, as the ongoing conflict between the United States, Israel, and Iran continues to impact consumers' budgets. Diesel fuel is primarily utilized by commercial vehicles in the country, such as trucks, trains, boats, buses, farming equipment, and construction machinery. In the U.S., the average price for a gallon of diesel has reached $5.85, up from $3.71 a year ago and surpassing the previous high following Russia's full-scale invasion of Ukraine.

The surge in diesel prices is a direct result of the escalating Iran conflict, which began at the end of February and has caused wholesale oil prices to skyrocket. In response to these rising fuel costs, U.S. President Donald Trump pledged to "substantially lower Gas Prices for all Americans" through a potential oil deal with Venezuela.

Just recently, U.S. special forces seized former Venezuelan leader Nicolás Maduro during a raid authorized by President Trump. The new agreement, announced on Saturday, aims to develop 17 strategic oil fields, with a proven potential of 65 billion barrels, and requires an investment of over $100 billion and more than $209 billion in taxes for Venezuela, according to Interim Venezuelan President Delcy Rodríguez.

The U.S. government will retain 55% control of a joint venture with an experienced private operator in Venezuela.

However, some analysts remain skeptical about the deal, questioning whether it will overcome long-standing obstacles that have deterred investment in Venezuela's oil industry. Oil is a crucial component of car fuel, and supplies have been limited as Iran, in response to the war, effectively closed the Strait of Hormuz, a narrow waterway south of the country through which a fifth of the world's oil is transported.

This has led to growing frustration among U.S. voters ahead of the important midterm elections in November. Recent polling from Reuters/Ipsos shows that President Trump's approval rating has fallen to 33%, with only 31% of Americans supporting the conflict.

However, not all Americans are facing the same level of price increases. According to the AAA's data, those living in Western states pay significantly more than others due to tax differences and proximity to U.S. oil producers. For instance, in Washington state, the average diesel price is $6.81 per gallon, compared to $5.03 a year ago. Along with high diesel prices, American consumers are also dealing with historically high gasoline prices, with the average price per gallon reaching $4.15, up from $3.20 a year ago.