US Diesel Prices Surpass $6 Per Gallon for First Time
Summary
Diesel prices in the United States have topped $6 per gallon for the first time, driven by surging crude oil prices and refinery shortages. The increase is expected to raise transportation, farming and household heating costs, with California already nearing $8 per gallon.
Key Points
- The average US diesel price reached $6.06 per gallon, the highest level on record.
- Higher crude oil prices and limited refinery capacity are driving the surge, with Russia and China also restricting exports.
- California diesel prices have already climbed to $7.98 per gallon and could cross $8 per gallon.
- Rising diesel costs are expected to feed into higher prices for goods, food and heating oil.
