Diesel Price Hits Record High as Freight Forwarders Appeal to Merz for Relief
AAA says California’s average reached $8.15 a gallon as some Bay Area stations neared $9, squeezing trucking and other diesel-dependent businesses.
- On Wednesday, the national average diesel price reached a record $6.31 per gallon as supply shortages intensify, with some California stations hitting their $9.999 pump limit, unable to display higher prices.
- Global energy flows remain disrupted as the war in Iran impacts shipping through the Strait of Hormuz, while Saudi Arabia's shutdown of its East-West pipeline removed roughly 4% of global oil supply.
- Trucking companies and farmers face surging operational expenses, with some fleet operators reporting fuel bills doubling in one year; John Eichberger of the Transportation Energy Institute noted costs create a 'compounding effect that drives food inflation higher'.
- Businesses are increasingly passing rising energy costs to consumers through added fees on goods and services, as experts warn diesel-driven inflation typically flows downstream into grocery receipts with a lag of six to ten weeks.
- The Exxon Mobil refinery in Joliet remains offline following a power outage, adding pressure to supply constraints; bond strategists warn the diesel-led inflation signal may elevate Treasury yields as markets reprice risk.
245 Articles
245 Articles
The energy market specialist advances that diesel must rise 4 cents and gasoline 2 cents. Still, it comes forward with a new proposal from CPI to Luís Neves.
Fuel prices in the Czech Republic continued to rise last week, but the rate of price growth slowed compared to the previous week, when prices rose by almost two crowns. A liter of the best-selling Natural 95 gasoline now costs an average of 44.29 crowns, while a liter of diesel is already 48.25 crowns. Since last Wednesday, gasoline has risen by seven haller, and diesel by 46 haller. This is according to data from the company CCS, which monitors…
About 1800 euros extra costs per truck per month: The sharp rise in diesel prices puts transport companies in distress, according to their association. However, the industry considers the proposal of Minister Reiche to be ineffective.
Diesel price rises to record high, calls for Chancellor Merz to take action
The average price of diesel fuel in Germany has risen to an all-time high, as pressure mounts on the government to take steps to ease the burden on motorists.
Chief of the Association warns: record diesel prices threaten freight forwarders and security of supply.
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