The average price of diesel fuel in the United States has reached a record $5.85 per gallon for the first time amid disruptions to global supplies due to the war with Iran. Higher fuel prices increase transportation costs and could lead to another rise in prices across a wide range of goods. AP reports, UNN writes.
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The food sector is under the greatest pressure, as vegetables, meat, and other perishable products require regular transportation, while diesel-powered machinery is widely used in agriculture. More expensive transportation also affects the cost of clothing, cosmetics, furniture, and other goods.
Some companies are already passing the additional costs on to consumers through fees for online orders and parcel delivery. Experts warn that the longer diesel remains expensive, the more strongly this will affect final prices.
Fuel prices surged after the start of the war with Iran
Diesel in the United States now costs nearly 56% more than before the start of the U.S. and Israeli war against Iran at the end of February, when the average price was about $3.76 per gallon.
One of the main reasons was the rise in oil prices caused by supply disruptions in the Middle East and restrictions on tanker traffic through the Strait of Hormuz. On Friday, Brent was trading above $95 per barrel, compared with approximately $70 before the start of the war.
The cost of regular gasoline is also rising—averaging $4.15 per gallon, compared with $3.20 a year earlier. AP notes that high fuel prices could become an additional political problem for Republicans ahead of the midterm elections in November.