US Diesel Prices Hit All-Time High

The US average diesel price has reached $5. 85, a significant increase from the previous year's average of $3. 71.

Drivers in the US are paying more than ever for diesel at the pump due to rising fuel prices and the ongoing conflict with Iran.

The surge in wholesale oil prices mirrors the increased demand for diesel, which has led to higher fuel costs for consumers.

US President Donald Trump recently pledged to 'substantially lower Gas Prices for all Americans' through an oil deal with Venezuela.

The agreement includes a significant investment of over $100bn (£73. 9bn) and more than $209bn in taxes for Venezuela, which the US invaded in January.

However, some analysts have questioned whether the deal would address long-running obstacles that have deterred investment in Venezuela's oil industry.

Oil is a key ingredient in car fuel and supplies have been limited by Iran responding to the war by effectively closing the Strait of Hormuz, a narrow waterway south of the country through which a fifth of the world's oil is transported.

Rocketing pump prices have angered US voters ahead of the crucial midterm elections in November.

According to recent Reuters/Ipsos polling, Trump's approval rating has fallen to 33%, with just 31% of Americans approving of the conflict.

But not all Americans face the same level of price rises. According to the AAA's data, those in the Western states pay much more than those elsewhere, due to tax differences and distance from US oil producers.

For example, in Washington, average diesel prices are $6. 81 a gallon, compared to $5. 03 a gallon a year ago.

As well as high diesel prices, Americans also face historically high petrol costs, with the average price per gallon reaching $4. 15 compared to $3. 20 a year ago.

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