US Diesel Hits $6.28 a Gallon, Up 70% Despite Trump's Supply Moves

3 articles · Updated · Yahoo Finance · Oct 9

$6.28 a gallon diesel on Friday left US pump prices near record highs, with AAA data showing a 70% jump since the US-Israeli war on Iran began.
Wars in Iran and Ukraine have tightened global fuel supplies so severely that analysts say only a durable end to both conflicts—or a recession crushing demand—would drive prices sharply lower.
Trump's two main responses have had limited effect: a G7-backed 100 million-barrel release appears to mostly repackage earlier commitments, though the White House says diesel-heavy shipments are being accelerated.
An executive order letting tax-exempt red-dyed diesel be used on highways through year-end has seen weak industry uptake because of tax uncertainty, logistics problems and risks when trucks cross state lines.
That persistence is deepening political pressure before the Nov. 3 midterms, as high diesel costs hit farmers, truckers and rural voters while Trump's approval rating sits at 32%.