Price of diesel in U.S. hits record as Vance downplays Iran war impact
Summary
Diesel prices in the U.S. reached a new high of $5.85 per gallon ahead of the Labor Day weekend. Vice President JD Vance said gas prices might have been even higher without U.S. actions related to the conflict with Iran. Shipping through the Strait of Hormuz remains below normal levels, contributing to higher oil prices.Key Facts
- Diesel hit a record price of $5.85 per gallon on Friday, surpassing the previous record of $5.81 in June 2022.
- The American Automobile Association (AAA) predicts the highest gas prices ever for the Labor Day travel weekend.
- Vice President JD Vance stated that gas prices could have been much higher if not for U.S. efforts in the Iran conflict.
- President Trump said oil flow from the Persian Gulf has recovered, but ship traffic through the Strait of Hormuz is still below pre-war levels.
- Shipping data shows 102 ships passed through the Strait of Hormuz last week, down from 126 the week before and far less than the typical 130 ships daily before the conflict.
- The ongoing Iran conflict is disrupting one of the world’s key oil shipping routes, increasing global oil prices.
- The article also mentions Lebanon’s release of detainees held by Israel but the main focus is on U.S. diesel prices and the Iran conflict’s effect.
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