U.S. diesel prices hit a record high, pushing up transportation costs for a long list of goods

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U.S. diesel prices reached an all-time high on Friday, averaging $5.85 per gallon according to AAA. This surpasses the previous record of $5.81 set in May 2022. The surge, representing a 58 percent increase from last year, is driven by global fuel supply disruptions caused by wars in Iran and Ukraine. These record prices are increasing transportation costs for numerous goods as conflicts continue to put significant strain on the global energy supply chain.
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