Diesel tops $5 a gallon for the first time since 2022. Here’s what it means for the economy.

U.S. diesel prices jumped above $5 a gallon on Tuesday, marking the highest level since December 2022, as the strain on global energy markets from the war with Iran continues to ripple through the American economy. Diesel prices reached $5.04 a gallon, up from $4.78 a week ago and from $3.65 over a month ago, according … Read more

Oil only accounts for half the cost of a gallon of gas. Here’s where the rest comes from.

The oil supply shock from the Iran war is directly impacting what Americans pay to fill up their cars, with gasoline prices up an average of roughly 60 cents since hostilities erupted on February 28. But just how much does the cost of oil factor into how much drivers pay to fuel up? “The price of … Read more

Gas prices across the U.S. jump 11 cents per gallon, AAA says

Gas prices across the U.S. jumped 11 cents overnight as the war with Iran continued to spread, pushing up the average cost nationwide to $3.11 per gallon, according to AAA. The increase has pushed fuel prices to their highest level in more than three months, with the average cost of gas last at $3.11 on Dec. … Read more