The Journal. · Friday, September 4, 2026
Renewed hostilities in the Middle East, including US strikes on Iran and Iran's missile attacks on US allies, have contributed to rising oil prices. The average price of diesel hit an all-time high of $5.85 a gallon, which is a significant factor driving current inflation and raising concerns about its persistence.
“First, renewed hostilities in the war with Iran.”
“So in general, since the war broke out. Oil prices are up a lot.”
“Today, the average price of diesel hit an all-time high of $5.85 a gallon.”
“And bond investors care about oil because oil was probably the biggest component driving inflation higher right now.”