LIVE US tightens economic squeeze on Iran after a week of renewed strikes

Diesel hit a new record cost in the U.S.

Key points

• The increases could have political implications, with economic problems probable to be top of mind for plenty of voters in November's midterm elections.
• Since diesel is employed for plenty of freight and delivery networks, higher diesel costs mean higher transportation costs for a long list of everyday goods.
• It can take time for all of those costs to trickle down.

Diesel hit a new record cost in the U.S. On Friday, soaring to an average of $5.85 a gallon for the first time ever as the six-month war with Iran disrupts the world's flow of fuel.

Since diesel is employed for plenty of freight and delivery networks, higher diesel costs mean higher transportation costs for a long list of everyday goods. More expensive fuel is increasing bills for businesses throughout sectors – some of which have already passed off costs to consumers in the form of went on fees on online orders and packages in the mail. And shoppers may see more and more sticker shock trickle into store shelves.

Notably, the increases could have political implications, with economic problems probable to be top of mind for plenty of voters in November's midterm elections.

One of the most immediate strains falls in the grocery aisle, particularly with produce, meat and other perishable foods that need to be hauled in and restocked frequently – or even harvested using diesel-powered farm equipment. It can take time for all of those costs to trickle down.

For now, lIVE  US tightens economic squeeze on Iran after a week of renewed strikes remains the part of the story worth watching, and further updates are likely as more details are confirmed.