Truckers in the U.S. are paying more than they ever have for diesel, with no end in sight for rising gas prices as the U.S.-Israel war with Iran continues driving up prices.
BBC News reports that the average price for one gallon of diesel in the U.S. has hit $5.85, compared to an average of $3.71 a year ago, and above the previous high following Russia's full-scale invasion of Ukraine, according to the American Automobile Association (AAA).
On August 28, U.S. President Donald Trump announced a massive deal between the U.S. government, private companies, and the administration of Venezuela for oil extracted from that country, in a promise to "substantially lower gas prices for all Americans."
Under the terms of the latest agreement, announced on August 29, 17 strategic oil fields with a proven potential of 65 billion barrels will be developed, as well as "an investment of more than $100 billion and more than $209 billion in taxes" for Venezuela, according to Interim Venezuela President Delcy Rodríguez.
The U.S. government will retain 55% control of a joint venture with an "experienced private operator in Venezuela," a U.S. official told the BBC's U.S. partner CBS News.
The infrastructure necessary to extract and transport oil has been substantially dismantled, following former president Hugo Chavez’s nationalization of the country’s oil industry.
According to the American Automobile Association's data, drivers in the Western states pay much more than those elsewhere, due to tax differences and distance from U.S. oil producers.
For example, in Washington, average diesel prices are $6.81 a gallon, compared to $5.03 a gallon a year ago.
