The average retail price of diesel in the United States surpassed five dollars per gallon on Monday, marking only the second time in history. This decline in industrial fuel supplies is due to the war in the Middle East, according to fuel market tracker GasBuddy. Economists warn that rising diesel prices could slow global economic activity, as this fuel is used in manufacturing and shipping. Ultimately, increased production and transportation costs are passed on to consumers. The surge in fuel prices poses a significant risk to US President Donald Trump as the Republican Party prepares for the midterm congressional elections in November.
