Diesel Rockets to over $5 a Gallon, Record High

[mystery-ak]

Diesel Rockets to over $5 a Gallon, Record High

Wendell Husebø 10 Mar 2022

The national average price of diesel fuel on Thursday rocketed to over five dollars per gallon, a record high that is sure to exacerbate inflation.

Increasing 12 cents overnight, a gallon of diesel fuel will now cost truck drivers $5.058, an increase of $1.691 since last month, according to AAA.

About 3.5 million American truckers and 711,000 trucking companies throughout the nation use diesel to fuel their trucks, which transport 70 percent of the nation’s freight tonnage, according to Diesel Technology Forum.

Rising diesel prices are sure to increase inflation. On Thursday, the Labor Department released inflation numbers. Breitbart News reported:

    The Department of Labor said that the consumer price index (CPI) rose 7.9 percent compared with a year ago. Prices were up 0.8 compared with the prior month.

    This is the ninth straight month of inflation above 5 percent. Prices rose at an annual rate of 7.5 percent in January, jumping 0.6 percent from December.

    Economists had forecast CPI to rise by 0.7 percent for the month and 7.8 percent compared with a year ago.

more
https://www.breitbart.com/economy/2022/03/10/diesel-rockets-over-5-gallon-record-high/

[IsailedawayfromFR]

We ain't seen nothing yet.

Inventories at the Cushing oil hub are dropping so fast that it may not be long when rationing will begin.

https://rbnenergy.com/tops-drop-prices-popping-crude-oil-tank-tops-keep-dropping-down-in-cushing

[mountaineer]

We drove on interstate highways in NE Ohio the other day, and saw diesel at a couple of gas stations for about $5.29. It's hovering around $4.99 here. Just incredible.

[Kamaji]

I saw diesel just above $5 yesterday on Long Island.  Regular gas was at $4.35, but I'm sure it won't be far behind the price of diesel.