US diesel prices surge above $6/gallon amid supply shortage and escalating Iran tensions, driving inflation expectations higher.
Macro & Markets ·
US diesel prices have risen above $6.00 per gallon for the first time, representing a 74 percent increase over nine months, with prices in some states exceeding $8.00 per gallon amid supply shortages. The surge coincides with crude oil trading near $105 per barrel and escalating geopolitical tensions involving Iran, factors cited as drivers of rising inflation expectations.