Warning as Diesel Prices Hit All-Time High: How It Will Hit Shoppers
Summary
Diesel prices in the U.S. have reached a new high of about $5.85 per gallon due to supply problems near the Persian Gulf. This rise will likely cause higher costs for many consumer goods because diesel powers most freight trucks and other parts of the economy.Key Facts
- Diesel hit a record price of $5.85 per gallon, surpassing the previous high of $5.82 from 2022.
- The national average diesel price is around $5.88, up from $3.71 a year ago.
- About 76% of the country’s 17 million commercial vehicles run on diesel engines.
- Diesel powers freight trucks, trains, farms, construction equipment, and delivery vehicles.
- Higher diesel prices increase transportation costs, which then raise prices of many goods, especially groceries.
- Recent price rises are linked to supply problems from conflicts near the Persian Gulf and attacks on energy infrastructure.
- Brent crude oil price is above $90 per barrel, adding to fuel costs.
- Rising diesel prices put extra pressure on President Donald Trump, who faces low approval ratings for his handling of the economy.
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