Plus: Strait of Hormuz tensions, Senate pushes English tests for CDL drivers, Craig Fuller slams FourKites’ CEO, and more in today’s newsletter.
Craig Fuller clarifies that his comments on Project44’s Movement platform were misrepresented by FourKites CEO Matt Elenjickal
Tensions in the Strait of Hormuz rise after U.S. strikes on Iran, threatening oil flows, diesel prices, and global freight shipping
Tensions in the Strait of Hormuz rise after U.S. strikes on Iran, threatening oil flows, diesel prices, and global freight shipping
Diesel prices fell 4.9¢ to $3.487 per gallon nationwide. Gasoline prices also declined, down 1.3¢ from last week.
National average diesel price rises for the third week, up by 43.3¢ since July 17. Diesel now 75.4¢ cheaper than the same period in 2022.
The national average diesel price sees a dramatic increase, soaring by 22.2 cents to hit $4.127 per gallon.
Diesel prices surge 9.9¢ in a week, hitting $3.905 a gallon, marking the largest increase since March 2022.
Diesel prices see a significant decline due to weakening spot market differentials and reduced oil exports from Russia and Saudi Arabia. Amidst China's shrinking oil demand and economic challenges, the global oil market faces a period of uncertainty.
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