Diesel jumps past $5 per gallon

Diesel jumps past $5 per gallon

The national average price for diesel has exceeded $5 per gallon as the war in Iran strains oil supplies, according to AAA.

© Jenny Kane, Associated Press

Diesel, like gasoline, is made from oil. It is often used to fuel trucks used in shipping, and high diesel prices can raise the price of trucked goods.

A month ago, before the conflict began, diesel prices in the U.S. averaged about $3.65 per gallon. Its average price is now about $5.04 per gallon.

According to Patrick De Haan, head of petroleum analysis at GasBuddy, this marks the second time ever that the average diesel price has exceeded $5, the first being in 2022 in the wake of Russia’s invasion of Ukraine.

The conflict in Iran has effectively halted shipping through the Strait of Hormuz, which is located near Iran and is a key shipping lane for goods including oil. About a fifth of the world’s oil consumption flows through the strait on an average day.

Read more at TheHill.com.

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How policy will affect the energy and environment sectors now and in the future:

Hassett says consumer pain over Iran war ‘the last of our concerns right now’

National Economic Council Director Kevin Hassett on Tuesday said that the economic toll that American consumers are feeling as a result of the U.S.-Israeli conflict with Iran is “the last of our concerns right now.”

Lawsuit alleges breakup of federal climate lab was tied to Trump’s feud with Colorado

A new lawsuit opposing the breakup of a federal climate and weather lab alleges that the move is part of a Trump administration retribution effort against the state of Colorado.

Graham tears into European allies over Strait of Hormuz reluctance

Sen. Lindsey Graham (R-S.C.) on Tuesday lambasted European allies over their reluctance to send military assets to reopen the Strait of Hormuz, threatening “wide and deep” repercussions for alliances.  

News we’ve flagged from other outlets touching on energy issues, the environment and other topics:

Trump’s DOGE Cuts Slashed Staff That Handled Middle Eastern Oil and Gas Crises (NOTUS)

Trump’s DOGE Cuts Slashed Staff That Handled Middle Eastern Oil and Gas Crises (NOTUS)

A monster heat wave is bearing down on Southern California. Here’s what you should know (LAist)

Upcoming news themes and events we’re watching:

Sen. Markwayne Mullin (R-Okla.), President Trump’s pick to lead the Department of Homeland Security, will have a confirmation hearing

The Senate Environment and Public Works Committee will hold a hearing on implementation of the Endangered Species Act

The House Natural Resources Committee will hold a hearing on lands-related bills

What Others are Reading 

Two key stories on The Hill right now:

Joe Kent resignation over Iran war reveals an internal MAGA Trump division

Joe Kent’s resignation from the National Counterterrorism Center over objections to the U.S. war in Iran is putting a spotlight on divisions in the GOP and President Trump’s MAGA coalition. Read more

Trump allies plan Senate floor takeover to pass SAVE America Act

President Trump’s allies are planning to take over the Senate floor this week in a bid to pass the Safeguard American Voter Eligibility (SAVE America) Act, setting up a major test for Senate Majority Leader John Thune (R-S.D.), who is under pressure from Trump and the MAGA base to extend the debate over voting reform for as long as possible. Read more

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