Diesel Prices in U.S. Top $6 a Gallon for First Time Ever
The 11.6% monthly jump is expected to raise shipping costs for groceries, restaurants and other goods as refinery capacity stays tight.
- On Thursday, the national average for a gallon of diesel rose to $5.98, a record 61% increase from a year ago, according to AAA data.
- Refinery outages tied to conflicts involving Ukraine, Russia, and Iran have knocked distillate capacity offline, straining global supply at exactly the wrong moment.
- The Department of Labor reported on Thursday that rising diesel costs drove more than a third of the producer goods price increase in August, rising 24.1% last month.
- Thomas Ryan, a senior North American economist at Capital Economics, said higher diesel costs are "something that households are going to have to weather at least over the remainder of this year."
- Global daily diesel consumption is rising by 2 million barrels as the U.S. harvest, heating-oil buying, and holiday freight cycle stack through November, amplifying pressure on already-strained supply.
14 Articles
14 Articles
The price of diesel in the US reached a historic high on Friday, as the national average price crossed $6 per gallon for the first time. The problem goes far beyond gas stations, as diesel affects almost every segment of the economy, from trucking to agriculture, and some experts say its current price level could be a “silent killer” for the economy. The backdrop is a combination of lost refinery capacity due to the wars in Iran and Ukraine, tig…
The average diesel price in the USA climbed over the six dollar per gallon mark for the first time on Thursday, which is about 1.36 euros per litre. According to analysts, the price increase is likely to drive inflation in the country.
The average price of diesel in the United States exceeded $6 per gallon for the first time in history
The average price of diesel in the United States exceeded $6 per gallon for the first time in history. "This is a level that the cost of diesel has never reached before, with a new historical high recorded less than a week after the previous record of...
Hurry up, Reuters: America's average diesel prices exceed $6 per gallon for the first time.
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
