US diesel prices hit record high as war on Iran backfires

Average diesel prices have hit a record high in the United States, amid the US acts of aggression against Iran and the closure of the Strait of Hormuz, through which around a fifth of the world's traded oil flows.

On Friday, average diesel prices soared to $5.85 a gallon for the first time since the start of the US-Israeli aggression against Iran on February 28.

Higher ​diesel prices, which are widely used in trucking, agriculture and industrial activity, mean higher transportation and production costs that subsequently raise food prices, bringing ripple effects for the economy and wider costs of living.

Some businesses have already passed on costs to consumers through added fees on online orders and mailed packages.

Prices of other products such as clothing, cosmetics and furniture, which are also transported by diesel trucks, trains and boats, are also expected to increase.

Experts warn that price hikes could mount the longer diesel remains expensive.

This constitutes another challenge for Republicans ahead of November’s midterm elections, with President Donald Trump’s approval rating slumping over his management of the economy and the fallout of the war he launched against Iran.

According to a recent AP-NORC poll, 2 out of 3 US adults disapproved of how Trump is handling the economy.

The price for regular gasoline has also been jumping, although not as fast as the price of diesel. The average price stands at $4.15 a gallon, compared with $3.20 at this time last year, according to motor club AAA, which says gas has never been above $4 a gallon on Labor Day.

US popular support for military aggression against Iran at lowest level: Poll

Popular support among Americans for military aggression against Iran has fallen to its lowest level since late February, a poll shows.

This represents approximately a 56% increase in US diesel prices since February 28, when the national average was around $3.76 per gallon, according to the American Automobile Association (AAA).

This has been driven by rising crude oil, the primary ingredient in both diesel and gasoline, amid supply-chain disruptions throughout West Asia.

Brent crude, the international standard, was trading above $95 a barrel on Friday, compared with about $70 before the war.

Iran’s Parliament Speaker Mohammad Baqer Qalibaf has issued a warning to Americans, saying that they will be “nostalgic” for $4–$5 per gallon fuel.

Tehran has been restricting passage through the Strait of Hormuz over the US-Israeli war of aggression.

Iran has allowed vessels serving neutral countries, such as China, to pass, while barring ships affiliated with aggressors and their supporters.

The US and Israel launched another round of aggression against Iran on February 28, some eight months after carrying out unprovoked attacks on the country.

Iran swiftly retaliated by launching barrages of missiles and drones at the Israeli-occupied territories, as well as US bases and interests across the region.

A ceasefire took effect on April 7, and on June 18, the presidents of Iran and the United States signed a memorandum of understanding (MoU) to end the war and begin a 60-day diplomatic process to resolve the differences.

However, renewed US strikes have once again triggered Iranian retaliation.

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