ECONOMY09/04/26

Diesel Hits All-Time High

U.S. diesel prices reached a record $5.85 per gallon on September 4, 2026.

Photo: Fox Business

DIFFERENT FOCUS

Axios and Marketplace emphasized Political Fallout For Trump; Fox Business emphasized Iran Conflict Driving Prices.

LEFT FOCUS

▸Prices surged 17 cents in just the last two days before the record was set. — Axios
▸The record price compounds a growing political problem for President Trump. — Axios
▸A seasonal fall upswing is a contributing factor on top of the war-driven price spike. — Marketplace
▸Prices are likely to climb even higher before cooling off. — Marketplace

RIGHT FOCUS

▸Democratic Sen. Mark Kelly accused Trump of causing the spike, saying he 'started his war with Iran.' — Fox Business
▸The year-ago average was $3.7121, highlighting how sharply prices have risen over 12 months. — Fox Business

September CPI Hits 3.7%

September consumer prices rose 0.6% monthly and 3.7% annually, the fastest pace in five months.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Thursday: September CPI confirmed at 3.7% annually, up from 3.6% prior

Left: Rising prices squeeze everyday Americans hardest.

Right: Inflation surge spells trouble for Trump, GOP.

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

Trump signs executive order waiving Russia sanctions and tariffs mandated by the Graham Act.

Left: Sanctions targeting Russia's Ukraine war dropped early

Right: Graham Act halted in name of national interest