▲ US diesel prices hit record high
Diesel prices in the United States have surpassed $6 per gallon, setting a new record high.
According to Reuters on the 10th (local time), US fuel price tracking firm GasBuddy announced that the nationwide average diesel price broke through $6 per gallon (1 gallon = 3.79 liters) for the first time ever.
After surpassing the previous 2022 record ($5.82) by reaching $5.87 per gallon on the 3rd, prices have broken all-time highs twice this month alone, climbing to $5.90 on the 9th.
This represents a 61% increase compared to when the Middle East war broke out in late February.
The surge is attributed to rising international oil prices and supply disruptions resulting from the war involving Iran and Ukrainian attacks on Russian oil refineries.
On this day, Brent crude closed at $107.63 per barrel and West Texas Intermediate (WTI) at $102.48, marking their highest levels since mid-May.
According to the US Energy Information Administration (EIA), diesel inventories stood at 106.3 million barrels, 13% below the five-year average, while the crack spread, an indicator of refining margins, hit a record high of $112.17 per barrel.
Gasoline prices, the most widely used petroleum product, are also showing strength.
According to the American Automobile Association (AAA), the nationwide average price for gasoline hovered around $4.2 per gallon, up 32% from a year earlier ($3.19).
With the midterm elections approaching in November, President Donald Trump and the Republican Party are concerned that the soaring fuel costs will act as a negative factor that drives up the cost of living and increases inflationary pressure.
Patrick De Haan, an analyst at GasBuddy, said, "Everything involving trucks, deliveries, parcels, and grocery shopping has become more expensive," adding, "Record-high diesel prices are highly likely to reignite inflation across the entire supply chain."
(Photo: AP, Yonhap News)
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