High diesel prices may put 'another squeeze' on the consumer, economist says

Diesel prices have increased by 68% since the start of the Iran war, reaching $6.32 per gallon, which could lead to higher costs for goods and food, affecting consumers, especially lower- and middle-income groups.

Why it matters. Consumers, particularly lower- and middle-income groups, may face increased costs for goods and food, exacerbating existing inflation pressures.