Diesel in the U.S. hits record: $6.23 per gallon, 60% more than a year ago
WHAT HAPPENED
Diesel in the U.S. reached a record of $6.23 per gallon, up from $3.70 a year ago: filling up a truck's tank costs 60% more. Gasoline also increased, to about $4.31.
WHY IT MATTERS
Attacks in the Middle East reduced the oil supply and several refineries are producing less diesel. The impact hits transportation, agriculture, trains, and construction first; later, their costs can reflect in more expensive food, clothing, and packages.
AND FOR YOUR PORTFOLIO
Even if you don't drive a truck, the rise can reduce profits for transportation companies, stores, and manufacturers if they cannot pass on all the costs. For a long-term investor, it shows how energy can pressure prices and results across many industries.
💬 TELL IT LIKE THIS
“Expensive diesel raises the cost of every goods trip, and that cost ends up traveling to the supermarket.”