Diesel crosses $5 per gallon average in the US

Diesel fuel has crossed the $5 per gallon national average for the first time, driven by supply pressures stemming from the war in Iran, according to AAA data. Diesel powers the trucking industry that transports goods across the country, making fuel price spikes particularly consequential for shipping costs and consumer prices on goods. Higher diesel costs typically translate into increased transportation expenses that businesses pass along to consumers through higher prices on everyday items. The price surge represents a significant jump from a month earlier, reflecting how quickly geopolitical conflict can ripple through energy markets and the broader economy.