Diesel prices in U.S. top $6 a gallon for first time

U.S. diesel prices reached a record $6.05 per gallon on Friday, up more than 60% in a year, driven by the war in Ukraine reducing Russian refining capacity and the conflict between the U.S. and Iran constraining global oil supply. Higher diesel costs, critical for trucking, construction, and farming, are expected to ripple through the economy as businesses pass increased transportation expenses to consumers over the coming months.