Diesel price surges to all-time high, fueled by wars

The average price of diesel topped its 2022 record high on Friday, spiking to $5.85 per gallon, per AAA. Why it matters: Farmers, truckers and freight companies have been absorbing higher diesel costs since the Iran war began. The ballooning price threatens to further raise shipping costs while compounding a growing political problem for President Trump. It can also indirectly affect households by putting inflationary pressure on anything Americans buy that's carried by truck, which includes…