U.S. diesel prices hit record as Vance downplays Iran war impact

U.S. diesel prices reached a record $5.85 a gallon on Friday, adding pressure on travelers ahead of the Labor Day weekend. AAA predicted holiday fuel prices would reach their highest level on record.

Vice President JD Vance declined to say when Americans might see prices fall. He argued that gasoline “could have been much, much higher were it not for our efforts” in the Iran war, although he said he would not call the conflict a war.

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Gas, frankly, could have been much, much higher were it not for our efforts

The comments came as traffic through the Strait of Hormuz remained well below pre-war levels. Despite President Donald Trump’s assertion that oil flows from the Persian Gulf had recovered, shipping data firm Lloyd’s recorded 102 vessels passing through the waterway last week, down from 126 the previous week. Before the conflict, at least 130 tankers crossed each day.

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All the efforts and initiatives

Elsewhere, Lebanese President Joseph Aoun thanked Trump and the United States after Israel transferred five former Lebanese detainees. Israel handed over one person on Thursday and four more on Friday, with the International Committee of the Red Cross acting as an intermediary.

The five were among about 30 people from Lebanon reportedly detained by Israel before and during its war against the Iran-backed Hezbollah group. The ICRC said many Lebanese families were still waiting for information about relatives who might be detained, dead or missing. It said it had not received access to Lebanese nationals held in Israeli detention facilities since the Gaza war began in October 2023.

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Many families in Lebanon are still waiting for answers about the fate of loved ones who may be detained, deceased or otherwise unaccounted for