US truckers' diesel spending hits record high on Middle East conflict - Reuters
US truckers' diesel spending hits record high on Middle East conflict Reuters
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Notable Quotes
"California sets itself apart from the rest of the country when it comes to pricing."
— Greg Dubuque , Executive
"It’s got a tremendous impact on the industry."
— Eric Sauer , Executive
"The hike in jet fuel prices triggered by the conflict in Iran could put some airlines out of business."
— Scott Kirby , Executive
"The longer energy prices remain elevated, the more households will need to confront tradeoffs."
— Philip N. Jefferson , Academic
"It’s killing everything."
— Sukhdeep Singh , Executive
"global oil prices don’t yet reflect the severity of the supply crisis caused by the war in Iran."
— Fatih Birol , Executive
Key People
Chief executive of California Trucking Association.
Fatih Birol is the director of the International Energy Agency.
General manager of Liberty Linehaul West and a third-generation trucker.
Vice chairman of the Federal Reserve.
CEO of United Airlines.
Owner of Merced County-based Cali Brothers Truck Lines.
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<a href="https://news.google.com/rss/articles/CBMitAFBVV95cUxNNHRtMFJaV1FBbmEwZzYyV0VzVWg2d2VVbHZQUy1PVUk0Y1VrWmNyXy1Gb1B3bDVFZENhM2VuaHJNaE1JbHJMd1FQLWQxNGh5Wjc5U3JYRGpHVXY3Wlc3YUpSeDUzTzJNVG54VnhYOTFZWTJqNl9OTHpXV2tadWtBUVlMVEstY3dVcDZVUXRDU0RLQnVfOWdFS2pYZzVTMzVJZ180TTJFbmNZblNpTkFjWWRlT1M?oc=5" target="_blank">US truckers' diesel spending hits record high on Middle East conflict</a> <font color="#6f6f6f">Reuters</font>
California truckers are struggling with diesel prices nearing $7.75 per gallon, a 50% increase in one month, severely impacting trucking operations statewide.
The U.S. retail diesel average dipped 3.5 cents to $5.608 a gallon, halting the record fuel price run-up since the Iran war started, though prices remain high, especially in California at $7.50 per gallon.
U.S. truckers are facing record diesel prices due to the Iran war, with the national average retail price increasing by $1.89, or 50%, since the conflict began, leading to higher transportation costs and consumer goods prices.
The diesel price increase, driven by the Middle East conflict, has cost the U.S. economy $9.4 billion since the conflict began, affecting not only truckers but also leading to higher consumer goods prices.
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