U.S. diesel prices top $6 for the first time

  • U.S. diesel prices rose above $6 per gallon on Friday for the first time.
  • Diesel prices increased 14% in one month and more than 60% over one year.
  • Gasoline averaged $4.295 per gallon, according to AAA, after rising over 40% since the Iran war started.

The average U.S. diesel price rose above $6 a gallon on Friday for the first time, reflecting a 14% increase over the past month and a gain of more than 60% over the past year. U.S. exports are surging to help cover a global supply shortfall linked to the closure of the Strait of Hormmuz and Ukrainian attacks on Russian refineries. Gasoline prices are also advancing: AAA put the national average at $4.295 a gallon, more than 40% higher since the Iran war started. Labor Department data showed U.S. gasoline prices increased 3.9% in August from July, contributing more than a third of the monthly rise in prices for all items.

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