17 Hrs
Source:
Sky News
Reuters: Trump measures fail to lower diesel prices
Diesel prices in the United States have surpassed record levels, rising by approximately 70% since tensions with Iran began, and are approaching a historic high near $6.53 per gallon. Government measures aimed at increasing supplies, including releasing 100 million barrels from reserves and easing the use of dyed diesel, have had no noticeable impact due to a global shortage of refining products and a decline in oil supplies from the Middle East and Russia. The crisis remains ongoing, as maintaining lower prices requires either improvements in refining capacity or a reduction in demand, both of which have broad implications for costs and inflation, placing additional pressure on U.S. policies ahead of the midterm elections.
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