Diesel prices across the U.S. have surged to their highest level in 10 months, following a 20-cent-per-gallon increase this week. According to the U.S. Energy Information Administration (EIA), the national average for on-highway diesel fuel hit $3.775 per gallon on June 23, a significant jump from the $3.571 recorded the previous week. Although diesel is now slightly more expensive than it was this time last year, analysts say drivers shouldn’t expect extreme, long-term price spikes. This latest increase in diesel prices is largely attributed to rising global oil prices spurred by escalating conflict in the Middle East. Israel and Iran recently traded attacks, prompting fears of broader geopolitical instability. In response, oil markets reacted strongly, pushing up both diesel and gasoline prices at the pump. Patrick De Haan, head of petroleum analysis at GasBuddy, noted that these price hikes mark the largest weekly diesel increase since August 2023.… ...[TheTopNews] Read More.
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