Updated

Gasoline prices have reached their highest level ever for this time of year, according to new data highlighted in a chart-of-the-day analysis. The unusual seasonal spike adds to broader concerns about energy costs heading into the fall amid ongoing geopolitical tensions affecting oil markets. Diesel prices have now also hit a fresh record high, a development described as significant because diesel costs feed directly into the CPI and are closely watched by both the Federal Reserve and the European Central Bank. The dual records in gasoline and diesel are intensifying concerns that elevated fuel costs could pass through to broader consumer prices, including groceries, in the coming weeks.