Diesel prices rise above $6 per gallon for first time ever in U.S.
The price of diesel in America on Friday surged to $6.06 per gallon, a first-time high that indicates the impact of the monthslong U.S.-Iran conflict just as oil price also reached $110 per gallon.
A report that the Houthi militia had overtaken a port on the Red Sea increased fears that the war was expanding and impacting another critical shipping route.
The fear cause a surge in oil prices with Brent crude, the global oil benchmark, reaching $110 per barrel before easing to $106.
West Texas Intermediate crude, the U.S. oil benchmark, traded lower at about $101 a barrel.
U.S. and Israel decapitated Iran on February 28 and the war has dragged on for over six months with no end in view.
Negotiations between Washington and Tehran to reopen the Strait of Hormuz, a critical passageway for one-fifth of the hlobal oil supply, collapsed with both nations renewing attacks.
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