Per AAA the average price of diesel topped its 2022 record high this morning, spiking to $5.85 per gallon. The previous record was $5.816 set in June 2022.
Farmers, truckers and freight companies have been absorbing higher diesel costs since Mr. Trump made a unilateral decision to go to war with Iran in February.
The ballooning price indirectly affects households by putting inflationary pressure on anything Americans buy that's carried by truck, which is just about everything.
While the strangling of the Strait of Hormuz cast the global market into disarray, Ukraine's highly effective drone campaign targeting Russian refineries has further strained worldwide diesel refinery capacity.
Trump has single-handedly set in motion a cascade
of destabilizing events that have dangerous consequences for global
stability, security and the world's economy.
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