Washington: Diesel prices in the United States climbed above $6 per gallon for the first time on Friday, reaching a national average of $6.05, according to American Automobile Association data.
Oil prices also rose, with both major benchmarks on track to close the week above $100 a barrel for the first time since mid-May. Brent crude futures gained 81 cents, or 0.8%, to $108.44 a barrel, while U.S. West Texas Intermediate rose 69 cents, or 0.7%, to $103.17. Both benchmarks jumped more than 6% on Thursday and were nearly 13% higher on the week — the steepest weekly gain since mid-July.
The surge is driven by intensifying attacks along key Middle East shipping routes. Iran-aligned Houthis seized Yemen’s port of Mocha on Thursday, heightening threats to Red Sea traffic, while tanker attacks have restricted flows through the Strait of Hormuz. Attacks on Saudi energy facilities from Yemen mark a further escalation beyond the Iran-focused conflict.
“While meaningful volumes are still moving through the Strait of Hormuz, flows remain well below pre-war levels, underscoring how fragile the situation has become,” ING analysts said.
President Donald Trump has linked the high energy prices to U.S. efforts to prevent Iran from obtaining a nuclear weapon. Iran and Gulf states are due to meet Monday in Oman to discuss temporary shipping arrangements through Hormuz.
