Diesel prices soar as crisis worsens, raising fears of rationing

Diesel prices soar as crisis worsens, raising fears of rationing

- While Americans are reeling from sticker shock at the gas pump, the diesel market is in its worst crisis since the 1970s, analysts say. - Prices for diesel, which powers much of the country's industry, have surged 76.5% in the last year. - "The markets are telling us there's a shortage. This is a tailwind for inflation. We're demanding more diesel than anyone can supply." While Americans are reeling from sticker shock at the gas pump, the diesel market is in its worst crisis since the 1970s, analysts say. The commodity fuels much of the economy, including big-rig trucks, farm equipment and industrial machinery. Prices hit a record $5.56 per gallon in the US, up 76.5% from a year ago. "The markets are telling us there's a shortage," Jim …
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