The U.S. average price for diesel Friday reached a new all-time high of $5.85 a gallon — up nearly 60 percent from a year ago ...

Diesel has hit a new record price in the U.S., soaring to an average of $5.85 a gallon for the first time ever.

Price of gasoline also sets new record for Labor Day weekend ahead of crucial midterm elections in November.

Because of the war in Iran, the cost has climbed past the record it reached in 2022 after Russia’s full-scale invasion of Ukraine.

The price of diesel has reached an all-time high, a result of the war in Iran and Ukraine's attacks on Russian refineries.

Farran Powell is the managing editor of investing at Forbes Advisor. She was previously the assistant managing editor of investing at U.S. News & World Report. Her work has appeared in numerous ...