US Retail Diesel Hits Record as Hormuz, Russia Crises Stretch On

US retail diesel prices have reached an all-time record high, driven by ongoing crises involving Iran and Russia. The market is currently roiled by wars in Iran and strategic attacks by Ukraine on Russian refineries. These price surges threaten to further increase energy-driven inflation and will have significant impacts across the entire supply chain. The combination of these geopolitical tensions continues to stretch the market, pushing diesel costs to unprecedented levels for consumers and businesses.