U.S. diesel price tops $6 per gallon, a record high as Ukraine and Iran wars ripple through economy
BREAKING: US diesel price tops $6 per gallon for the first time ever, hitting $6.0556 nationwide as supply disruptions from the Ukraine and Iran wars drive transportation costs sharply higher.
Six dollars a gallon for diesel, for the first time in American history.
The national average hit $6.0556 on Friday, and truckers and farmers are paying about 63 percent more to fill up than a year ago. In California it's nearly eight dollars. You can see why the pumps hurt right now. Crude went back over a hundred dollars this week for the first time since May, up 20 percent this month alone, as the Iran and Ukraine wars tear through global fuel supply.
Here's GasBuddy's Patrick De Haan calling it a silent killer for the economy. He's right, and here's why. Diesel moves the trucks, trains and ships that carry everything you buy, so this price lands in your grocery bill whether you drive or not. Ukraine has hammered Russian refineries, Iran is squeezing the Strait of Hormuz, and the world has lost nearly 8 percent of its diesel supply.
American refineries are running at 98 percent capacity. There is nothing left to give.
This is Sara White, reporting for HIT.
Source
This story was written by HIT from the reporting above. We publish our own copy, not theirs.
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