Diesel prices surge as Iran war strains global supply
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U.S. retail diesel prices have surged to over $5.60 per gallon, with California exceeding $7.41, due to global supply disruptions from the Iran war. This conflict has reduced Middle East oil flows and global reserves by 250 million barrels, pushing Brent crude prices above $109 per barrel. The high fuel costs are impacting transport, farming, and manufacturing sectors, while increasing interest in electric vehicles.
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