Diesel fuel is a staple for the farmers and truckers who supply Americans with their essential needs – and its price has skyrocketed in recent months, driven by inflation to far outstrip regular gasoline in price hikes.
diesel fuel was averaging $5.52 a gallon nationally Tuesday — up a dizzying 68 percent from a year ago, when it was selling for just $3.28. By comparison, a gallon of regular gasoline is averaging $4.50, up 42 percent from a year ago.
Unless prices ease, the ripple effects of high diesel fuel could worsen because the costs are deterring some truck companies from accepting jobs unless they can persuade their customers to bear the added cost of more expensive fuel, the AP report sets out. “There will be more logistical shortages,” said Phil Verleger, a veteran energy economist. “Americans will find more empty shelves and higher prices.”
Even more than gasoline, elevated diesel prices are magnifying the costs of goods because the delivery cost has risen so much.
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