The ceasefire between the U.S. and Iran over the Strait of Hormuz expired on August 17, and, with it, hopes for lower crude oil and fuel prices anytime soon. 

Immediately after the ceasefire ended, oil prices jumped. Crude oil is above $90 per barrel for the first time since the end of July. And the trucking industry is set to suffer as diesel rises above $100 per barrel in the U.S. for the first time.

And the conditions on this side of the ceasefire aren’t pointing toward peace. Here are the most recent updates:

• On August 17, President Trump threatened to bomb Oman, a U.S. ally, over the Strait of Hormuz conflict.
• On August 18, Iran released a new list of demands aimed at the U.S. to reopen the strait. These include lifting the blockade; ending Iranian oil sanctions and releasing frozen assets; and stopping all military action. 
• On August 18, President Trump posted on Truth Social about claiming the Strait of Hormuz as a new U.S. territory. 
• On August 18, President Trump finally confirmed what Iran has been saying for weeks: There haven’t been any official talks with Iran, and none are currently planned. 

You don’t have to be an expert to look at the current situation and realize we are nowhere near peace in this conflict with Iran. As the conflict continues, diesel and gas prices could rise further, hurting drivers everywhere and hitting the trucking industry hard. 

The national average on-highway diesel price rose 20 cents to $5.454, according to data released by the U.S. Energy Information Administration (EIA) on August 18. Gas prices rose 4 cents to $4.049. Compared to last year, diesel prices are up $1.74, and gas prices are up 92 cents. 

What are the current diesel prices across the U.S.?

Here are this week’s diesel price highlights from each region of the U.S.:

• Midwest: The biggest increase in diesel prices this week occurred in the Midwest, rising 25 cents to $5.435.
• Gulf Coast: Along the Gulf Coast, diesel prices rose 19 cents to $5.237.
• West Coast: Along the West Coast, diesel prices rose 17 cents to $6.203. Without including California, diesel prices rose 17 cents to $5.699. 
• Rocky Mountain: In the Rockies, diesel prices rose 16 cents to $5.427. 
• East Coast: Along the East Coast, diesel prices rose 15 cents to $5.340.

According to AAA Motor Club (AAA), the current national diesel price average is $5.468. This is 1 cent higher than EIA’s current estimate and $1.777 higher than this time last year. 

What are the current gasoline prices across the U.S.?

The current national average on-highway gasoline price is $4.049, according to EIA, 4 cents higher than last week’s average. 

Here are this week’s gasoline price highlights from each region of the U.S.:

• Rocky Mountain: The biggest increase in gasoline prices this week occurred in the Rockies for 16 cents to $4.285.
• Midwest: In the Midwest, gas prices rose 12 cents to $3.938. 
• Gulf Coast: Along the Gulf Coast, gas prices rose 8 cents to $3.622. 
• West Coast: Along the West Coast, gas prices rose 1 cent to $5.086. Without including California, gas prices rose 6 cents to $4.706. 
• East Coast: Along the East Coast, gas prices dropped 2 cents to $3.863.

According to AAA, the current national price average is $4.065. This is 2 cents higher than EIA’s current estimate and 93 cents higher than this time last year.

In a recent press release, AAA stated, “Crude oil prices are once again in the $80-per-barrel range amid continued uncertainty along the Strait of Hormuz. While gasoline demand is down, crude oil prices are keeping pump prices higher than normal for this time of year. So far, this is the highest August on record when it comes to the national gasoline average.”