According to foreign media reports citing data from fuel market tracking organization GasBuddy, the average retail price of diesel in the United States surpassed US$5 per gallon for the second time on March 16 (Monday).
The ongoing conflict involving the US, Israel, and Iran has severely disrupted the global diesel supply chain. Economists warn that the surge in diesel prices could slow down global economic activity. As a core fuel for manufacturing and freight industries, the rise in diesel prices will lead to increased production and transportation costs, which will ultimately be passed on to consumers.
The report notes that despite US President Trump and other world leaders announcing the release of strategic petroleum reserves, these measures have had little effect on curbing the soaring fuel prices so far. This marks the second time that the US diesel retail price has exceeded US$5 per gallon since 2022.
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