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U.S. Diesel Prices Near Peak
Diesel prices in the United States are approaching record levels, having increased by 70% since the crisis sparked by the war between Iran and Ukraine, leading to the average price rising to $6.28 per gallon. Despite former President Donald Trump's attempts to mitigate the impact by utilizing emergency reserves and expanding the use of tax-exempt red diesel, the market continues to face fuel shortages. Experts consider the crisis to be real, rooted in a global shortage of refined products, rather than in taxes or temporary measures.
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