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US average diesel prices broke above USD 6.50 per US gallon for the first time ever. Since January 2025, overall price levels (measured by the consumer price index) are up 4.8%, with motor fuel prices up 17.0%, feeding perceptions of an affordability crisis. US President Trump indicated a willingness to meet with Iranian President Pezeshkian. The rhetoric from both sides remains negative. The US agreement with Denmark on Greenland might be a positive (reframing an existing agreement could be a useful precedent), but limited trust between the US and Iran complicates things.
