Tag: diesel prices

IEA Warns of Diesel Demand Destruction Amid Soaring Prices

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…


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,…