Record diesel prices and a surprise jump in hiring are hitting at the same time, and both point to more pain for people and investors.

• Diesel hit an all-time high near $5.85 a gallon, up about $2 from a year ago.
• Diesel feeds trucking, farming and factories, so those costs show up in almost everything people buy.
• The economy added far more jobs than expected in August, which sounds good but makes it less likely the Fed cuts interest rates — stock futures fell on the news.
• Oil is above $90 a barrel after Iran hit a US base in Kuwait, and Trump did not strike back, which is unusual.
• The White House says shipping through the Strait of Hormuz is close to normal again, but keeping US warships there full-time is expensive and hard to sustain.

Outlook: As long as the fighting continues, fuel costs and inflation are likely to keep climbing, with no rate relief in sight.