Record at gas stations is not all: what will rise in price after diesel

Diesel fuel prices in the US have reached record levels, threatening to increase the cost of food, goods, and winter heating. The average price of diesel is about $6.43 per gallon. Experts warn of rising inflation and potential Federal Reserve rate hikes.

Diesel fuel prices in the US have reached record levels, threatening to increase the cost of food, goods, and winter heating. The average price of diesel is about $6.43 per gallon, while regular gasoline is $4.47 per gallon. The price increase is linked to disruptions in the Strait of Hormuz following the US-Israeli attack on Iran in February and the ongoing Russian invasion of Ukraine. Experts warn that expensive fuel could raise wholesale prices, leading to higher prices on store shelves. Particularly concerning are households that heat their homes with heating oil: bills could rise by more than 31%. In August, annual inflation was 3.4%, above the Fed's target of 2%. The Fed raised interest rates for the first time since 2023 to curb price growth. Fed Chairman Kevin Warsh stated that they cannot influence individual prices but will do everything to prevent the spread of changes in relative prices.