← March 17, 2026 briefingEconomy
Iran War Sends US Diesel Prices Near Five Dollars
The Strait of Hormuz crisis has driven US diesel prices to nearly $5 a gallon — up $1.34 from last month — threatening to raise the cost of transporting goods and planting crops across the country. The International Energy Agency is considering releasing more emergency oil reserves as markets show no sign of stabilising. In a notable wrinkle, the White House is quietly tolerating Iranian oil exports to avoid making the supply crunch even worse.
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