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The price of diesel hits a record high

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In Short: The price of diesel in the United States has reached a new record high, hitting $5.85 per gallon, according to the American Automobile Association (AAA). This surpasses the previous peak recorded in June 2022 following Russia's invasion of Ukraine.

The price of diesel in the United States has reached a new record high, hitting $5.85 per gallon, according to the American Automobile Association (AAA). This surpasses the previous peak recorded in June 2022 following Russia's invasion of Ukraine. Labor Day weekend travelers are facing the highest gas prices ever for this time of year, AAA reported on Friday.

The average price for diesel has risen significantly, with Susan Bell, senior vice president of downstream research at Rystad Energy, noting that the everyday consumer will see higher diesel prices in the consumer goods they purchase. The price increase is attributed to the high cost of crude oil, despite typically lower demand for gasoline this time of year.

Since the start of the Iran war, higher gas and diesel prices have cost Americans more than $741 per household, according to a tracker from Brown University. Diesel prices began their monthslong rise in late February, coinciding with the launch of the Iran war and the subsequent soaring oil prices.

The average price for diesel has reached a new record of $5.85 as of September 4, surpassing the prior high of $5.8159 set in June 2022, according to AAA. Democratic Sen. Mark Kelly of Arizona highlighted the impact, declaring that diesel prices have skyrocketed since Trump started his war with Iran.

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