US diesel prices hit a record high of $5.85 on average as the Iran war disrupts the flow of fuel
CHICAGO (AP) — Diesel hit a new record price in the U.S. on Friday, soaring to an average of $5.85 a gallon for the first time ever as the 6-month-long war with Iran continues to disrupt the world’s flow of fuel.
Because diesel is used for many freight and delivery networks, higher diesel prices mean higher transportation costs for a long list of everyday goods. More expensive fuel is increasing bills for businesses across sectors — some of which have already passed off costs to consumers in the form of added fees on online orders and packages in the mail. And shoppers may see more and more sticker shock trickle into store shelves.
One of the most immediate strains falls in the grocery aisle, particularly with produce, meat and other perishable foods that need to be hauled in and restocked frequently — or even harvested using diesel-powered farm equipment. It can take time for all of those costs to trickle down.
Still, experts warn that price hikes could mount the longer diesel remains expensive. A range of other products are also transported by diesel trucks, trains and boats, including clothing, cosmetics, furniture and more.
© Copyright The Associated Press. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of The Associated Press.
