Diesel prices have climbed more than 75% since the Iran war began, reaching $6.28 per gallon. Economists warned that because diesel powers the trucking and farming industries, the price spike will trickle down into most consumer goods. Meanwhile, the energy sector has been a top performer in the S&P 500, with the XLE energy ETF rising 51% this year.
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US Fuel Bill Rises $160B in Hormuz Oil Shock, Highest of Any Nation
Commodities21 hours ago
The global Hormuz oil crisis added an average of $471 to the fuel spending of every person in the US. Total extra fuel costs reached $160B, the highest expenditure of any nation, despite the US being the world's largest oil producer.
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