Fuel for Inflation: How Diesel Prices Are Igniting Global Concerns Crude oil prices have hit a four week high of $97 per barrel, with diesel trading at its highest level since 2022.
The average cost in the US has soared to over $5. 78 per gallon, causing alarm among policymakers and economists.
The war in Iran is disrupting oil supplies, with attacks on ships in the Strait of Hormuz leading to minimal vessel traffic.