Trump's Iran war sends US diesel prices to record high
The cost of diesel fuel crucial to American industry has risen above the 2022 peak to an all-time high of $5.85 per gallon (with an August monthly national average of $4.07), surging 17 cents in two days amid ongoing military conflict with Iran, threatening a new inflationary burst ahead of November elections.
- US diesel prices surpassed the 2022 peak.
- Rising fuel costs threaten an inflationary surge ahead of November elections.
- Average diesel price reached $5.85 per gallon, topping the 2022 record.
- Diesel prices surged 17 cents in two days.
Sources
- CNBC — Diesel hits record high as Ukraine and Iran wars knock out refineries, fueling inflation worries
- Financial Times — Trump’s Iran war sends US diesel prices to record high
- BBC — US diesel prices hit an all-time-high
- The Independent — Trump faces Iran war nightmare as diesel hits record $5.85 and prices threaten to soar
- Axios — Diesel price surges to all-time high, fueled by wars
- Axios — Markets can't ignore the war anymore
- CNBC — 10-year U.S. Treasury yield hits highest level since November 2023
- BBC — Faisal Islam: Why bond market wildfire is keeping world leaders up at night
- The Guardian — Global bond sell-off intensifies as US-Iran tensions stoke inflation fears
- BBC — UK long-term borrowing costs highest since 1998 ahead of October Budget
- CNBC — 10-year yield hits highest since January 2025 as higher oil prices stoke inflation worries
- MarketWatch — This could be the 10-year Treasury’s tipping point into the danger zone
- BBC — US borrowing costs hit fresh highs over inflation fears
- Semafor — Global bond yields hit highest levels in decades
- The Guardian — UK 10-year gilt yield highest since 2008 as rising oil prices trigger global bond rout – business live– business live