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The average price for a gallon of regular gasoline in California on Monday was $5.52, the highest in the U.S., and more than 50 cents more than any other state, according to AAA.
Data: AAA ; Chart: Axios Visuals The price of diesel fuel has surged above $5 a gallon in the U.S., the highest in four years, creating new inflationary pressure on anything Americans buy that relies on truck transport — which is to say, pretty much everything. Driving the news: The average retail price of a gallon of diesel was $5.04 Tuesday, AAA says, up from $3.65 a month ago. - That amounts to a 38% one-month rise in the price of diesel, surpassing even the 30% rise in the price of regular unleaded gasoline over that span. - The Iran war has choked off supplies of crude oil and other commodities from the Persian Gulf, driving up global prices. State of play: Most Americans have little direct exposure to diesel prices;…
U.S. gasoline prices are up nearly 80 cents from a month ago, while diesel prices have shot up even more. Diesel is now just under $5 a gallon, according to AAA, up $1.34 from last month.
Data: EIA ; Chart: Axios Visuals The cost to fill up your car will probably climb soon — and the oil price spike over Iran tensions is only one reason. Why it matters: Gasoline is the most visible energy expense for many people. That makes it politically important, too. - President Trump is fond of touting what are now pretty modest prices in much of the country. The big picture: Oil prices are jumping this week as traders digest the risk that a U.S. strike on Iran could disrupt supply. - That will eventually filter down to retail gasoline. The intrigue: Other, more mundane forces are also going to start putting upward pressure on gasoline, fuel market analysts say. - Refiners will soon start the switch to so-called summer blends,…