Diesel prices have predictably climbed in the last week since the US attack on Iran earlier this month.
The average price for a gallon of diesel rose nearly 50 cents per gallon from $3.015 to $3.502, according to the weekly report from US Energy Information Administration (US EIA).
Every region rose sharply, none rose less than 34 cents.
The region that increased the most was the West Coast Region which climbed by more than 53 cents from $4.160 to $4.690.
According to an Associated Press report, the price of diesel climbed Monday, too: to $4.65 a gallon in the U.S., a 23% jump since the war started.
“Can’t underscore what a massive jolt this is to the logistics, trucking, (agriculture) sectors,” Patrick De Haan, a petroleum analyst at GasBuddy, wrote on X Monday.
Fuel prices account for 50% to 60% of the total operating cost of shipping goods by ship, according to Patrick Penfield, professor of supply chain practice at Syracuse University, so higher fuel prices have a huge effect on the industry.
“When fuel prices start to go up, everything starts to slow down,” Penfield said. “So your ships slow down, your trucks slow down. People are less apt to ship things via air. And it really kind of causes a drag on the economy when fuel price go up.”
“We’re putting an end to all of this threat once and for all, and the result will be lower oil prices, oil and gas prices for American families,” President Donald Trump said at a news conference Monday. The war, he said, is “just an excursion into something that had to be done.”
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
