The ongoing conflict involving the US, Israel, and Iran is putting pressure on the cost of living for Americans. Amidst this, diesel prices in the country have reached an all-time high. In the US, diesel is primarily used for trucks, trains, marine vessels, buses, and vehicles involved in agriculture and construction.
The American Automobile Association (AAA) reports that the average price of diesel in the US is now $5.85 per gallon; a year ago, the average price was $3.71.
Current prices have surpassed the peak levels seen following Russia’s full-scale invasion of Ukraine. This surge in fuel prices has fueled frustration among US voters ahead of the crucial midterm elections this coming November.
According to a recent Reuters/Ipsos poll, public support for Trump has dropped to 33 percent. Only 31 percent of Americans support the war involving Iran.
However, fuel prices have not risen at the same rate across all regions of the US. According to AAA data, diesel prices in western states are significantly higher than in other regions. Key reasons for this include tax differences and the distance of these states from the country’s oil production centers.
For instance, the average price of diesel in Washington state is now $6.81 per gallon, compared to $5.03 a year ago. It is not just diesel; gasoline prices in the US have also risen to historic highs.
The current average price of gasoline is $4.15 per gallon, whereas a year ago it was $3.20.
Fuel prices have risen rapidly since the conflict involving Iran began on February 28. A major surge in crude oil prices in the wholesale market is driving this trend.
Amidst rising fuel costs, US President Donald Trump recently pledged to “significantly lower gas prices for all Americans” through an oil deal with Venezuela.
