by Boo_Randy
The Fed can’t print diesel. Trucking costs – passed on to consumers – are about to get a lot more expensive. But Yellen the Felon “feels” inflation will magically drop back down to beneath 2% in the 2nd half of the year (let’s pretend it was ever really two percent).
oilprice.com/Latest-Energy-News/World-News/Diesel-In-Crisis-Mode-As-Prices-Break-Records.html
Diesel prices, the lifeblood of industry, have hit a record $5.16 per gallon, trending $1 per gallon higher than gasoline prices, with inventory shortages adding severe pressure and resulting in inflated prices for consumer goods.
“While gasoline prices get much of the attention, diesel, which broadly is the fuel that moves the economy, has quietly surpassed its recent record high as distillate inventories, which include diesel and jet fuel, have plummeted to their lowest level in years,” media quoted Patrick De Haan, head of petroleum analysis at GasBuddy, as saying.
AAA records diesel at $5.18 per gallon as of early Friday.