Soaring oil prices have pushed Diesel fuel prices to record highs, and even if you don't drive a vehicle that runs on Diesel, you'll be feeling the crunch of those higher prices elsewhere.
"You should really care," Gas Buddy fuel analyst Patrick DeHaan said.
According to DeHaan, you'll pay for those high Diesel prices even if your car runs on standard gasoline. He says that because the trucking industry runs on Diesel, and that industry will pass its costs down to you.
"Talk about going out to eat, your next delivery, you order something online, you go to the grocery store . . . This economy runs on Diesel," DeHaan said. "You have goods. You have things in your house. You have things all around you . . . Even your gasoline gets into your tank with Diesel--tanker trucks fill (stations) up with gasoline. This economy runs on Diesel."
DeHaan says the cost of Diesel will push regular gasoline prices higher, too, because the tankers that deliver gas to stations run on Diesel. According to DeHaan, those prices will continue to climb as long as the U-S/Iran War and the Russia/Ukraine War continue.
"These prices will continue to go up until there is de-escalation or until the problems that cause the high prices get addressed," DeHaan said. "Unfortunately, I don't think it's going to get a whole lot better anytime soon as these geopolitical tensions don't seem to be improving."
DeHaan notes that Diesel prices in California are approaching the $10 mark. Louisiana, he says, has the lowest Diesel prices in the nation at $5.85 per gallon.
Gas Buddy's Patrick DeHaan: Trucking companies will pass Diesel costs onto consumers
Gas Buddy's Patrick DeHaan: Trucking companies will pass Diesel costs onto consumers
