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AXIOS (Avery Lotz) - A costly summer sendoff approaches

Persistent pump pain and pricey burgers mean this summer's last hurrah comes with a cost crunch. The big picture: Gasoline prices are almost certain to remain north of $4 per gallon over Labor Day weekend — a heavy travel stretch and the time when midterm election season intensifies. Driving the news: Labor Day gas prices are slated to be the highest on record, surpassing the previous one set in 2012, per market tracking firm GasBuddy and AAA . - That's coming off a record-setting August, where the monthly national average of $4.07 trounced 2022's record, per AAA data. - While regular gas prices are more likely to impact Labor Day travel than diesel, the fuel that powers America's trucking fleet hit a new high Friday, driving up…

Keywordsgas-pricesinflationeconomylabor-dayenergyoil-pricesiran-warstrait-of-hormuztrumppete-hegsethmidterm-electionscost-of-livingaaagasolinedieselconsumer-spendingtraveltsabeef-pricesgopusageopoliticsenergy-crisiscrude-oilmarket-volatilitymidterms-2026inflationary-pressuretransportationeconomic-newsmiddle-east

JUSTTHENEWS (Kevin Killough) - Diesel prices hit record highs, pushing up costs for a variety of goods as shipping costs rise

Because diesel powers freight and delivery networks, as well as agricultural machinery, the high costs of fuel will impact a long list of everyday goods.

Keywordsdiesel-pricesenergy-crisisgas-pricessupply-chaintransportationgeopoliticsoil-pricescrude-oilenergy-marketsfuel-pricesus-newscommodity-marketsenergygasoline-pricespetroleumus-economyusafuel-costsrising-costsaaacost-of-livingconsumer-costsconsumer-spendingmacroeconomicseconomyinflation

AXIOS (Avery Lotz) - Diesel price surges to all-time high, fueled by wars

The average price of diesel topped its 2022 record high on Friday, spiking to $5.85 per gallon, per AAA . Why it matters: Farmers, truckers and freight companies have been absorbing higher diesel costs since the Iran war began. The ballooning price threatens to further raise shipping costs while compounding a growing political problem for President Trump . - It can also indirectly affect households by putting inflationary pressure on anything Americans buy that's carried by truck, which includes a massive share of goods. Driving the news: Diesel has been rising steadily for weeks, but surged 17 cents in just the last two days. - The previous record was $5.816, per AAA, set in June 2022. - Diesel typically costs more than gasoline…

Keywordsdieselgas-pricesinflationeconomyenergy-crisisiran-warstrait-of-hormuztrumpukraine-warrussiaoil-pricescrude-oiltransportationtruckingfarmingsupply-chaincommodity-marketsgasoline-pricespetroleumenergy-marketsgeopoliticsus-newsusaaaafedfederal-reserveshipping-costsrefineriesmiddle-east

AXIOS (Ben Geman) - Diesel desperation is mounting globally

The state of the global diesel market is getting even more precarious as the Russia-Ukraine war and the Iran crisis squeeze supply from multiple angles. Why it matters: Diesel prices ripple through economies here and abroad, affecting shipping costs, construction and plenty in between. - The average U.S. price is up 44 cents over the last month to $5.32 per gallon, compared to $3.71 a year ago, per AAA. - However, during the Iran crisis, it hasn't hit the all-time high of $5.82 per gallon that AAA recorded in mid-June of 2022. Driving the news: A new S&P Global Energy analysis unpacks the ingredients behind the "big squeeze" in global refined product markets. - S&P estimates that refineries worldwide processed 7.5 million barrels per…

What is the current capacity status of U.S. diesel refineries and what external factors could impact remaining buffers?
S&P notes that U.S. refineries are currently running at 96% of capacity. Remaining market buffers are considered very thin due to the heart of hurricane season and upcoming traditional fall maintenance.
Q&A ID d77314b2-c6e3-4a42-9ab8-e97785f375a0
How much of the operating costs for trucking companies in the U.S. is attributed to fuel?
According to the American Trucking Associations, fuel accounts for roughly 20-25% of trucking companies' operating costs in the United States.
Q&A ID f47300a3-473b-499e-9422-330cd8421b49
What are the revised diesel price forecasts from the Energy Information Administration for 2026 and 2027?
The Energy Information Administration revised its 2026 retail price estimate upward to an average of $4.85 per gallon, up from $4.61 in last month's outlook. It also raised its 2027 forecast average to $4.07, up from $4.02.
Q&A ID 223d2735-4a9d-4aad-8feb-f9471f85fa47
According to the International Energy Agency, what was the change in diesel exports from Russia, the Middle East, and Asia in July?
Diesel exports from Russia, the Middle East, and Asia in July were 1.3 million barrels per day lower year-over-year, which is equivalent to approximately 20% of global seaborne trade.
Q&A ID 5bfabc27-bed2-4bdf-93e7-379f1758ae8e
Keywordsdieseloil-pricesenergy-crisisinflationeconomyiranrussiaukrainemiddle-eastgas-pricesfuel-costssupply-chaingeopoliticsieaeiasp-globalaaacommodity-marketstransportationenergy-securitystrait-of-hormuzchinaus-economymarket-volatility

AMERICANALMANAC (Alan Benson) - Unsecured metal pipes pierce sedan on Orange County highway as driver barely escapes

A California driver walked away with only minor injuries after at least six metal pipes from a pickup truck crashed through the rear window of the sedan, a near-miss that the California Highway Patrol called a preventable consequence of improperly secured cargo. The collision happened Thursday, July 16, on a highway in Orange County, California. […] The post Unsecured metal pipes pierce sedan on Orange County highway as driver barely escapes appeared first on American Almanac .

A California driver walked away with only minor injuries after at least six metal pipes from a pickup truck crashed through the rear window of the sedan, a near-miss that the California Highway Patrol called a preventable consequence of improperly secured cargo. The collision happened Thursday, July 16, on a highway in Orange County, California. A white pickup truck loaded with metal pipes struck a gray sedan, and upon impact the unsecured load launched forward, puncturing the sedan's rear windshield and lodging deep inside the vehicle. Photos released by the CHP Santa Ana Area Office show the long pipes jutting through shattered glass, occupying the space where a rear-seat passenger would sit. The sedan's driver escaped with minor…Open

Keywordscaliforniaorange-countycar-crashaccidenttraffic-collisionvehicle-crashhighway-accidentroad-safetypublic-safetycalifornia-highway-patrolchpunsecured-loadmetal-pipesnear-missbreaking-newsus-newstransportationemergency-responsesanta-anaaaaroad-debriscar-accidenthighway-crash

AXIOS (Avery Lotz) - Gas again tops $4 per gallon as Iran fighting persists

Drivers can expect pump shock déjà vu as the national average gas price again climbed over $4 per gallon today, as President Trump appears poised to escalate the war in Iran. The big picture: Tanker traffic is once again being choked in the Strait of Hormuz after fighting between Iran and the U.S. reignited, with Washington reinstating a naval blockade that could dramatically escalate tensions. - Oil prices have risen as the conflict has escalated and the memorandum of understanding between the U.S. and Iran unravels . Driving the news: The national average is now $4.00 a gallon, per AAA. Catch up quick: Last month, prices slipped back below $4 per gallon, giving some relief following months of pain at the pump. - As a result,…

How has the rise in gas prices impacted American households according to surveys?
The rise in gas prices has caused "financial hardship" for two-thirds of households surveyed.
Q&A ID dba4938e-edf3-4f36-b564-23d2c73b1806
What discussions did President Trump have in the Situation Room regarding the conflict with Iran?
President Trump met with his team in a Situation Room meeting to discuss a massive offensive that would be wider in scope than the current bombardments.
Q&A ID 20d58517-c630-4e16-92ef-a5b435ff02b8
What was the purpose of the recent U.S. military strikes against Iran according to U.S. Central Command?
U.S. Central Command stated that the recent strikes were a response to Iran's attacks on commercial shipping and were intended to further degrade the military capabilities of Tehran.
Q&A ID a2179a0b-178b-4750-a165-6e5d3e39af15
Why is tanker traffic being choked in the Strait of Hormuz?
Tanker traffic is being choked in the Strait of Hormuz because fighting between Iran and the U.S. has reignited and Washington has reinstated a naval blockade.
Q&A ID 9edd5077-ccb5-47a5-99bf-f889454d8c24
Keywordstrumpiranwargas-pricesenergy-pricesoildieselmiddle-eastus-policymilitary-actiongasolineeconomic-impactgeopoliticsinflationnational-securityconflictstrait-of-hormuzusaid-central-commandtehranmarket-feareconomyaaaenergy-crisistrump-administrationoil-prices

AXIOS (Mike Zapler) - Gas prices are rising again — and so is GOP grief in the midterms

Just when Republicans thought they'd caught a break on gas prices, the collapse of President Trump's Iran deal is derailing their best chance to change the inflation story before the midterms. Why it matters: Falling gas prices are one of the most tangible ways to ease voter anger over inflation. Renewed combat — and the threat of escalation — has prices shooting back up. The big picture: Trump has said repeatedly that gas prices will "drop like a rock" when the war is over. But the war doesn't look like it's ending anytime soon. - When the U.S. first launched attacks on Feb. 28, average gas prices nationally were $2.98 a gallon, per AAA. They eclipsed $4.50 in May, gradually dropped to about $3.75 earlier this month, and are now…

Keywordstrumpiranwargas-pricesinflationgopmidtermselectioneconomyenergy-pricesoilmiddle-eastgeopoliticsus-politicsnational-securitystrait-of-hormuzaaaeconomic-impactamerican-enterprise-institutefox-newswhite-housecongressrepublican-partyfuel-pricesgasoline

AXIOS (Avery Lotz) - Gas dips below $4 a gallon after months of pump pain

The U.S. national average gas price has dropped back below $4 a gallon, per AAA , a sign of Americans' pain at the pump easing after months of war in Iran . The big picture: Iran's squeeze on oil traffic through the Strait of Hormuz battered the global economy. But crude prices in June fell to their lowest levels in over three months on news of an extended ceasefire agreement between the U.S. and Iran. - The agreement is designed to restore shipping through the strait, but even with a full reopening, U.S. pump prices will likely remain higher than pre-war levels for some time. Driving the news: The national average is now $3.9990 a gallon, per AAA. - A year ago, the average was $3.1880. - Diesel prices remain over $5 per gallon,…

Keywordsgas-pricesoil-pricesinflationeconomyiran-warus-newsenergy-marketsrising-costsconsumer-spendingmacroeconomicsfuel-pricespetroleumgeopoliticsstrait-of-hormuztrumpwhite-houseiranmiddle-eastcost-of-livingdieselaaauniversity-of-michigandemocratsceasefire