Diesel prices in the U.S. have skyrocketed above $5/gallon due to rising tensions in the Strait of Hormuz, marking the highest levels since December 2022.
Diesel prices exceed $5/gallon for the first time since Dec 2022.
Strait of Hormuz tensions drive global oil supply concerns.
Higher diesel costs contribute to rising inflation across the U.S.
Geopolitical instability could lead to further price fluctuations.