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Diesel Tops $6 as Brent Oil Surges Ahead of Midterms
Diesel is a fuel used by many trucks and other vehicles.
Its price in the United States has risen above $6 per gallon.
The price of Brent oil has also gone above $107.
Diesel prices are nearly 60 percent higher than they were before late February.
The increase began after the United States and Israel started a military campaign against Iran.
The conflict has made it harder for ships to travel through the Strait of Hormuz.
That waterway once carried about one-fifth of the world's oil.
Problems moving oil can lead to higher fuel prices.
U.S. diesel prices have risen above $6 per gallon.
Brent oil prices have climbed past $107.
Diesel prices have increased nearly 60 percent since late February.
The increase followed the start of a U.S. and Israeli military campaign against Iran.
The conflict has disrupted shipping through the Strait of Hormuz, which previously handled about one-fifth of global oil flows.
- Who
- The United States, Israel, and Iran are involved in the reported conflict affecting oil markets.
- What
- U.S. diesel prices topped $6 per gallon, while Brent oil rose above $107.
- Where
- The disruption is centered on shipping through the Strait of Hormuz.
- When
- The increase has occurred since late February, ahead of the midterm elections.
- Why
- The military campaign and resulting conflict have severely disrupted oil shipping through the Strait of Hormuz.
Key facts
- U.S. diesel price
- More than $6 per gallon
- Brent oil price
- More than $107
- Diesel price increase
- Nearly 60 percent since late February
- Conflict participants
- The United States, Israel, and Iran
- Shipping chokepoint
- The Strait of Hormuz
- Previous oil flow through chokepoint
- About one-fifth of the world's oil flow
- Political timing
- Ahead of the midterm elections
Sources
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