U.S. DIESEL SURGES ABOVE $5 AS SUPPLY SQUEEZE DEEPENS U.S. diesel futures surged above $5 a gallon for the first time since 2022, as Middle East disruptions and Russia’s export ban tighten global supplies. Retail diesel has already hit a record $5.98 nationally, with California averaging $7.91. The surge threatens to raise transportation costs and fuel inflation, adding pressure on consumers and the Fed.(*Walter Bloomberg)