The price of diesel hits a record high
Diesel prices in the United States have reached a record high of $5.85 per gallon, threatening to increase costs across the industrial supply chain. Because diesel powers essential transport like trucks and trains, analysts warn that these costs will likely trickle down to consumers in the form of higher food and goods prices.
Why it matters
Rising energy costs for logistics are a primary driver of inflation, directly impacting household budgets and the broader economy.
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The price of diesel has reached an all-time high, according to AAA.
The national average for a gallon is now $5.85 . The price of diesel hasn't been this high since June 2022, when the average for a gallon reached $5.81 a few months after Russia invaded Ukraine, according to AAA data.
The record high is significant because diesel powers much of the industrial supply chain in the United States via the "three t's" of the economy: trains, tractors, and trucks, says Patrick De Haan, petroleum analyst at GasBuddy, a travel app that tracks gas and diesel prices.
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