Oil Shipping Costs Spike, Lifting Prices From Pump to Grocery
Record tanker rates and higher insurance costs are raising fuel expenses and could reverse recent grocery price relief, analysts said.
7 Articles
7 Articles
Oil Shipping Costs Spike, Lifting Prices from Pump to Grocery
When the oil supertanker Esteem Explorer sails from the United States to Japan in late November, loaded with about 2 million barrels of crude, the journey will cost $81 million. The same journey would have cost $9.1 million last year, on average.
Food prices in American supermarkets are expected to grow further due to the sharp increase in the cost of diesel fuel and logistics services, and American food companies are adversely affected by record diesel prices, transmitting the News to RIA with reference to the Financial Times. Current rates for long-distance freight trailer transport have increased by a factor of one and a half per year. In addition, the cost of aluminium and carbamide …
Food prices in the U.S. can accelerate growth due to the increase in fuel and freight, respectively, reports the Financial Times with reference to ... . . . . . 14.10.2026, PRIM
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