CNN Business reports diesel fuel hit record prices in California, Hawaii, Washington, Nevada, Arizona and North Carolina while the national diesel average sits roughly $0.15 below its 2022 peak and gasoline remains further from its 2022 record.
CNN Business spoke with Tom Kloza, an independent oil analyst and advisor to Gulf Oil, who said diesel is rising faster than gasoline because diesel was already in short supply and heavy winter heating oil use in the Northeast worsened that shortage.
Most long-haul trucks run on diesel, and higher diesel prices force trucking companies to raise freight rates, which can pass through to higher retail prices for goods.
Marine bunker fuel is similar to diesel, so shipping costs can increase alongside diesel, and farm and equipment operators that rely on diesel also face higher operating costs.
This article is based on reporting from Jalopnik.
Read the full article at Jalopnik.
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