San Francisco Diesel Prices Reach Historic High Amid Iran Conflict
San Francisco has become the first U.S. city to see average diesel prices exceed $8 per gallon, driven by the ongoing conflict in Iran. The closure of the Strait of Hormuz has significantly reduced global oil supply, leading to increased oil prices and domestic pump costs. California's statewide average for diesel has climbed to $7.63 per gallon, with several states experiencing prices above $6. The situation is exacerbated by California's unique fuel market constraints, including refinery limitations and environmental regulations, which contribute to more extreme price fluctuations.