00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. diesel prices climbed above $6 a gallon for the first time,
00:06raising the risk of further energy-driven inflation as demand increases heading into fall,
00:11according to Bloomberg.
00:12The national average reached $6.0556 a gallon,
00:16according to the American Automobile Association,
00:19while prices in California approached $8.
00:22Diesel is a major input for shipping, agriculture, construction, and home heating,
00:28meaning higher costs could filter through to consumers.
00:32Global supplies have tightened as Ukrainian drone strikes prompted a Russian diesel export ban,
00:38while fighting in the Middle East has disrupted refining and shipping through the Strait of Hormuz.
00:43The U.S.-Iran conflict could keep energy prices elevated for longer,
00:47as both sides appear prepared for a prolonged war.
00:51For all things money, visit Benzinga.com.
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