In the six months of President Trump’s Iran War, diesel fuel prices have jumped by $2.09 to an all-time high average price of $5.85 per gallon in the U.S. According to the Wall Street Journal the previous high average diesel price of $5.81 in the U.S. was set in June 2022 at the beginning of the fighting in Ukraine. Analysts expect diesel prices to soar even higher as fuel demand will only increase during the fall harvest period in the Northern Hemisphere and as demand grows for winter home heating oil in the U.S.
Given the fact that the physical economy depends heavily on diesel fuel, inflation will remain.
