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US gasoline averaged $4.20 a gallon and diesel about $6.32, both sharply higher year over year, ahead of the midterm elections. GasBuddy expects record election-day fuel prices, which the article links to recent US military action against Iran.
Elevated crude and diesel prices raise input and transport costs across feed supply chains, and political pressure may prompt policy responses on energy.
cnbc.comSpencer KimballOct 31, 2026After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
