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Diesel Price Hits Record High in US Amid Iran Conflict, Fueling Election Concerns


ABC NEWS
१९ भदौ २०८३, शुक्रबार   १० : ३५   बजे

Kathmandu— The national average price of diesel in the United States has reached a record high of $5.85 per gallon amid escalating tensions in the Middle East, according to the American Automobile Association, as the conflict between the U.S. and Iran continues to disrupt global oil markets and intensify political pressures ahead of November's midterm elections.

Record Fuel Prices Set Amid Geopolitical Tensions

The price of diesel in the United States has reached a record high of $5.85 per gallon (3.9 liters) on Friday, surpassing the previous peak recorded in June 2022 after Russia invaded Ukraine, according to the American Automobile Association. This new record comes as the U.S. and Iran remain locked in a conflict that began with U.S. and Israeli strikes on Iran in February, prompting Tehran to shut down the Strait of Hormuz—a critical global energy trade route—which sent oil prices soaring.

Gasoline prices have also set a new Labor Day weekend record at $4.14 per gallon, marking the highest price ever recorded for this time of year, AAA reported. The national average for gasoline has never exceeded $4 per gallon during the Labor Day holiday, with prices now rising amid continued volatility in the Strait of Hormuz, which has pushed crude oil prices to around $90 per barrel.

Political Implications for Midterm Elections

The record fuel prices come weeks ahead of the November congressional midterm elections, as the Trump-backed Republican Party seeks to retain control of the U.S. Senate and House of Representatives. Public opinion polls indicate that the war with Iran remains unpopular with voters, and the rising cost of living has become a top electoral issue nationwide.

President Donald Trump and Vice President JD Vance have repeatedly claimed that the U.S. military is now in control of the Strait of Hormuz, with Vance stating that "Iran’s control over Hormuz is effectively gone," and Trump asserting that 18 million barrels of oil are passing through the strait daily, nearly matching pre-war levels. However, these claims are difficult to verify, as tankers under U.S. protection often turn off transponders to avoid detection by Iranian forces.

Conflicting Claims Over Strait of Hormuz Control

Iran has accused the U.S. administration of attempting to manipulate the oil market, insisting that the Strait of Hormuz remains under Tehran’s control. Despite U.S. assertions, suspected Iranian strikes on ships in the strait have continued almost daily, including an attack on a Saudi tanker earlier this week that killed two sailors.

The U.S. president has suggested renaming the Strait of Hormuz the "Trump Strait" and previously claimed it would become American territory, though these statements have not been substantiated by independent verification. Meanwhile, the U.S. military’s role in securing the waterway has been called into question as the conflict continues to disrupt global energy markets and drive up prices for American consumers.

With the midterm elections approaching, the combination of record fuel prices and ongoing Middle East tensions is expected to remain a key issue for voters and political strategists in the coming months.

(With inputs from Al Jazeera)

Originally published on abcnews.com.np.

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