The International Energy Agency (IEA) has warned about a potential destruction of demand in the global diesel markets in its latest Oil Market Report. High diesel prices are fueling inflation and adding pressure on the global economy, according to the November report. The market was already in a deficit before Russia’s invasion of Ukraine began…
IEA Warns of Diesel Demand Destruction Amid Soaring Prices
Diesel Prices Keep Climbing, Making Inflation Harder to Root Out
With diesel prices remaining elevated, inflation is becoming that much harder to bring under control, placing more financial burden on American consumers. Vehicles like trucks, tractors, trains, barges, and construction equipment—which are part of the commercial traffic—are mostly run on diesel. As such, the fuel is intricately linked to consumer inflation as their prices factor…
US Truckers ‘Barely Getting By’ as Diesel Prices Soar
American truckers are finding it difficult to make ends meet amid elevated diesel prices, with fuel shortages worsening the problem. At the beginning of 2022, the retail price of diesel in the United States was $3.61 per gallon. This has now jumped more than 47 percent, to $5.32 per gallon, as of Oct. 31. “You’re…
Forget Gas Prices—Diesel Reveals the Real Crisis
As the Biden administration continues to drain the United States Strategic Petroleum Reserve (SPR) in a dubious gamble to suppress gas prices and win votes before the midterm elections, another fuel crisis is brewing. While gasoline prices have indeed come down from this summer’s highs, diesel prices remain stubbornly elevated, and, more worrying, U.S. inventories have…
Diesel Prices Surge Amid Deepest Inventory Slump on Record
The global diesel market is facing a crunch from lower production, undermining efforts by world economies to recover and increasing the fragility of markets on both sides of the Atlantic, while adding to already-high inflationary pressures. In the United States, diesel price hikes have overtaken that of gasoline. “While #gasprices have seen a slight rise,…
US News
- Jack BradleyThe Irvine City Council Jan. 24 failed to pass a motion to launch an independent investigation after political consultant Melahat Rafiei last week—in a plea agreement relating to an FBI… [...]
- Henry JomAustralia’s Defence Minister Richard Marles has said that the AUKUS deal will be one of the nation’s most significant national security decisions in decades as the federal government is set… [...]
- Mimi Nguyen LyThe U.S. military carried out a counterterrorism operation on Jan. 25 in Somalia that killed multiple ISIS terrorists, among them Bilal-al-Sudani, according to the Pentagon. Secretary of Defense Lloyd J.… [...]
- Victoria Kelly-ClarkThe United States and Papua New Guinea (PNG) are set to negotiate a defence cooperation agreement just after Australia and the southern Pacific nation agreed to a broad-reaching security agreement… [...]
- Mimi Nguyen Ly, Joshua PhilippCalifornia’s controversial COVID-19 misinformation law, which bars doctors from providing “misinformation” or “disinformation” related to COVID-19, is an unprecedented effort by those in power to block doctors from sharing their… [...]
- Daniel Y. TengTeam members of the Cairns Taipans have decided against wearing a special Pride Round jersey in response to a “barrage of abuse and harmful commentary” targeting individual players. The Australian… [...]
- Zachary StieberExperts who advise the U.S. Food and Drug Administration (FDA) on immunizations were supportive on Jan. 26 of a planned pivot on COVID-19 vaccines. Members of the Vaccines and Related Biological… [...]
- Lee SmithBig pharma has a good deal with big government—even if someone is hurt by a vaccine, the drug maker is exempt from liability claims. Lack of accountability then is at… [...]
- Brad JonesThe California Department of Water Resources (DWR) announced Jan. 26 it expects to deliver 30 percent of requested water to its public water agencies in 2023—1.27 million acre-feet—up from the… [...]
- City News ServiceSANTA ANA, Calif.—The family of an Orange County deputy public defender who died in Mexico while celebrating his first wedding anniversary was expecting to receive the body Jan. 26 so… [...]