Diesel prices surpass $6 average for first time in history
The average price of diesel jumped over the $6 mark for the first time ever on Friday, setting the stage for broad price hikes in the United States. The national average hit $6.06 per gallon, surpassing the high watermark of $5.82 set in June 2022, AAA reported. The global supply chain's reliance on diesel fuel means rising prices are likely to raise costs in many other areas, including at the…
For the first time ever, the average price of diesel reached $6.06 per gallon, surpassing the previous high of $5.82 set in June 2022, according to AAA. This increase is largely due to the global supply chain's heavy reliance on diesel fuel, which has been impacted by the conflicts in Iran and Ukraine. The price of diesel has risen by a staggering 55 percent since the United States and Israel launched strikes on Iran in February.
Experts predict that if this trend continues, this year could see the largest annual percentage increase in diesel prices in history. The situation has prompted refiners to operate at maximum capacity, struggling to meet the demand for diesel. Despite this effort, there simply isn't enough diesel to go around. Meanwhile, the price of gasoline has also surged, with regular grade gas reaching an all-time high of $4.29 per gallon.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Diesel prices surpass $6 average for first time in history koreatimes.co.kr
