Gas prices are surging just before Labor Day, as diesel nears an all-time high

TL;DR

AAA predicts record-high gasoline prices for Labor Day weekend.
The national average for regular gasoline reached $4.14 a gallon, and diesel averaged $5.78.
High crude oil costs, despite decreasing gasoline demand, are driving up prices.
Rising fuel costs are impacting consumers and businesses, with an estimated $741 per household increase since the start of the Iran war.
Soaring diesel costs affect trucking, construction, and agriculture industries.
President Trump met with U.S. oil refiners to discuss increasing capacity and made a deal with Venezuela for oil reserves, though experts caution it may take years to impact U.S. fuel prices.
Fuel prices are expected to remain elevated until shipping in the Strait of Hormuz resumes.
Geopolitical tensions, including Iran's claims of strikes targeting U.S. forces, are contributing to rising oil prices.
Oil accounts for about half the cost of a gallon of gas in the U.S.

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