On the Eve of Midterm Elections! US Diesel Prices Surge, Approaching All-Time High

Over the past month, diesel prices have risen a cumulative 8%, while the spread between diesel and crude oil has also hit an all-time high in recent days. The trigger is the US-Iran military conflict blocking the Strait of Hormuz, compounded by Ukrainian strikes on Russian refineries, sharply tightening global supply. This surge is severely hitting US agriculture and logistics, sparking renewed inflationary pressure, posing a serious political test for the Trump administration, and potentially forcing the White House to adopt aggressive policy measures.