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Diesel Prices Are Climbing Even Faster than Gas Prices. Here’s Why You Should Care
Diesel prices rose 22%, reaching $4.60 per gallon, increasing costs for trucking, shipping, and farming sectors across the US, driven by supply shortages and geopolitical tensions.
- On Sunday, U.S. diesel prices surged 47 cents, a 16% rise to $4.60 a gallon, with analysts noting diesel was already in short supply before the shock.
- Iran attacked refineries and ships in the Strait of Hormuz, a route for more than 20% of world oil; the president says the administration guarantees ships and will provide Navy escorts.
- Kansas farmer Curt Hoobler said diesel is crucial ahead of spring planting, while Kareem Miller, Strong Pact Trucking owner, reported unprecedented spikes and may raise rates soon.
- Container shipping companies and cargo carriers have added fuel surcharges, raising transport costs, and firms warned surcharges may rise again Monday, pushing up freight and consumer prices.
- Diesel underpins distribution of consumer goods and food, and economists warn oil shocks can push inflation higher; some predict diesel could hit $5 a gallon this month.
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37 Articles
37 Articles
Local 3 News+2 Reposted by 2 other sources
U.S. drivers notice the sharp rise in gasoline prices, but another fuel – diesel – is also on the rise, and at a much faster pace.
Coverage Details
Total News Sources37
Leaning Left1Leaning Right0Center36Last UpdatedBias Distribution97% Center
Bias Distribution
- 97% of the sources are Center
97% Center
C 97%
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