Soaring U.S. Diesel Prices Slam Local Communities as Fuel Costs Surge
- On Friday, diesel prices in Pennsylvania reached $6.6021 per gallon, nearly matching the record of $6.6098 set earlier in the week, according to AAA.
- The U.S. Energy Information Administration reports reduced refining activity in Russia, China, and the Middle East tightening global supplies; Europe replaced Russian diesel sources, compounding the shortage.
- Independent driver Ezalden Alzokari paid $955 to fill his truck Tuesday at Marathon, over $350 more than normal; Wayne Industries owner Russo implemented a 45% fuel surcharge to offset costs.
- Farm equipment operating costs surged from $70 to $80 hourly last year to $180 to $200 this year, forcing difficult decisions on viability, according to Pennsylvania Farm Bureau President Tommy Nagle.
- Diesel is the 'heartbeat fuel for American economic activity,' according to Pennsylvania Motor Truck Association President and CEO Rebecca Oyler, though experts like Stanley Lim suggest electrification could eventually mitigate price volatility.
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67 Articles
US diesel crisis about to become Asia's interest rate problem
Diesel in the US has climbed to more than US$6.50 a gallon, up about 75% from a year ago, and Asia is likely to pay for it in the form of higher interest rates. Expensive diesel keeps American inflation elevated, which gives the Federal Reserve reason to keep raising interest rates. Higher US rates lift […]
Diesel and gas prices expected to remain elevated for at least another year, federal survey finds
High diesel prices are projected to take at least another year to return to 2025 levels, according to a Federal Reserve Bank of Dallas survey of oil and gas executives.
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Farmers being affected by rising diesel prices - Home - WCBI TV
MACON, MS – Harvesting season is a little trickier this year, as farmers are dealing with unprecedented highs for the price of diesel. The Golden Triangle area is known for cotton, soybeans, and corn. Those raw ingredients become fiber, food, and fuel. Planting and harvesting them takes a lot of fuel, especially diesel. It fuels tractors, combines, pickers, and trucks....
"Brace for losing everything": Farm crisis fears grip GOP in Iowa
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