Diesel Surge Drives Inflation | Salt Lake City News

Diesel prices are soaring to record highs—now averaging $5.85 a gallon, up from $3.70 last year—and the ripple effects are hitting everything from groceries to toys. Powered by global conflicts in Ukraine and the Middle East, supply chain disruptions and U.S. refineries selling more diesel overseas are tightening domestic supplies. As businesses pass on higher fuel costs to consumers, inflation climbs, complicating the Fed’s efforts to tame it. With oil demand already falling due to high prices, experts warn that if Middle East tensions persist and China increases buying, prices could spike past $100 a barrel—making energy’s grip on the economy even tighter. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/fd1213df1f5458be