U.S. gasoline prices reached their highest September level on record and diesel prices hit a new high as Brent crude moved above $100 a barrel amid escalating tensions involving Iran. Supply bottlenecks, refining constraints, stronger global demand and risks around the Strait of Hormuz pushed refined-fuel crack spreads higher. Peter Schiff, economist and Echelon Wealth Partners co-founder, warned that the Trump administration's drawdown of the Strategic Petroleum Reserve could leave the United States more exposed to future disruptions and drive oil prices significantly higher in coming years. AAA data put average U.S. regular gasoline at $4.2245 a gallon and diesel at $5.9424, while October WTI futures traded at $95.66 and November Brent reached $100.56. Higher diesel costs are expected to increase transportation, farming and delivery expenses, adding to goods-price inflation.