The price of diesel in the US rose above $6 per gallon for the first time as ongoing tensions in the Middle East pushed up oil prices.
According to American Automobile Association (AAA) data, the gallon price of diesel has reached $6.05 nationwide as of today.
Global oil prices rose approximately 9 percent on a weekly basis today, driven by increasing tensions in the Middle East. While the November term barrel price of Brent oil is traded at 104 dollars as of 13.08, the barrel price of West Texas Intermediate (WTI) crude oil is at 99.25 dollars.
The rise in oil prices is reflected in diesel prices in the USA through refinery costs and final product prices.
The gallon price of diesel, which was $3.75 in the USA on February 28, when the US and Israel’s attacks against Iran began, rose to $6.05 today.
On Wednesday, US President Donald Trump argued that they went to war with Iran to prevent it from having nuclear weapons, and said, “As soon as we win the ongoing war with Iran, oil prices will fall. We will win this war.” he said.
