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Diesel Prices Skyrocket as Iran Conflict Chokes Global Supply

American truckers and farmers are paying the price at the pump as the Strait of Hormuz remains under threat.

Foreign PolicyPublished September 4, 2026 at 10:52 AM
A bearded man in a beige coat and a black and white chequered scarf drives his car through a US urban area. His car has a black leather interior.

The American economy is feeling the heat as diesel prices hit an all-time high of $5.85 per gallon, a staggering increase from the $3.71 average seen just one year ago.

This surge, driven by the conflict with Iran and the resulting closure of the vital Strait of Hormuz, is hitting the backbone of our nation—the commercial vehicles, trucks, and farming equipment that keep the supply chain moving.

While the American Automobile Association (AAA) confirms these record-breaking costs, the pain is unevenly distributed, with Western states like Washington seeing prices as high as $6.81 per gallon.

President Trump has vowed to lower costs through a strategic oil deal in Venezuela, which involves the development of 17 oil fields and a significant US-led joint venture. However, skeptics remain wary of the long-standing infrastructure hurdles in the region.

As voters express their frustration ahead of the midterms, the reality remains that the closure of a critical global waterway by a hostile regime is directly impacting the wallet of every American consumer.

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energyeconomyforeign-policyiraninflation

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