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Diesel costs have risen more than 55% since the start of the war with Iran, outpacing the 40% jump in gasoline prices. In fact, diesel is on track for easily the biggest annual percentage increase on record, according to a CNN review of AAA data.
And protesters are taking to the streets around the world to voice anger about skyrocketing fuel prices and rolling blackouts, as the now monthslong US war with Iran drives up the cost of energy globally.
0:00 Fuel prices are climbing rapidly and may continue to rise
1:31 When can consumers expect relief?
2:48 Trump promised in 2024 to reduce energy costs. What happened?
5:07 Rising fuel prices are triggering protests across the globe
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<br>1. Drastically lower the cost of diesel in America which would also lower prices within the general economy.
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<br>2. Drastically raise the prices of diesel worldwide. This would force other countries to help open up the strait of Hormuz either thru joining the U.S. against Iran (NATO countries), or by placing more diplomatic pressure on them such as China.
<br>Diesel prices have hit record highs near $6.20 a gallon, while petrol has rebounded to around $4.30 a gallon after dipping below $4 earlier this summer.<br>
<br>US crude prices have climbed around 19% over the past three weeks to trade near $101 a barrel as Middle East attacks intensify.<br>
<br>Interior Secretary Doug Burgum maintains the disruption is temporary and has pointed to plans to boost Venezuelan output and US refining capacity, while rejecting speculation of a ban on US refined product exports.