Diesel prices hit record highs, pushing up costs for a variety of goods as shipping costs rise
Because diesel powers freight and delivery networks, as well as agricultural machinery, the high costs of fuel will impact a long list of everyday goods.
Diesel prices hit record highs in the U.S. on Friday, rising to an average of $5.85 per gallon for the first time since the war in Iran started at the end of February.
In California, which typically has some of the highest gas prices in the country, diesel prices were nearly $7.71 per gallon, according to AAA.
Prices for diesel are also higher than their peak following the Russian invasion of Ukraine, when they hit an average of $5.82 per gallon in July 2022.
Because diesel powers freight and delivery networks, as well as agricultural machinery, the high costs of fuel will impact a long list of everyday goods. Food prices will be impacted immediately by rising shipping costs before the farmers' rising expenses trickle down to the grocery store.
Some businesses have begun passing on the costs to consumers in the form of added fees for online orders and mail deliveries, the Associated Press reported.