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Diesel Up 68%, Belated Economic Hit On Consumers Coming

At a glance

  • Diesel fuel was averaging $5.52 a gallon nationally Tuesday — up a dizzying 68 percent from a year ago, when it was selling for just $3.28. By comparison, a gallon of regular gasoline is averaging $4.50, up 42 percent from a year ago.
  • “If you’re a farmer, then your energy costs are higher, and therefore it’s costing more to produce grain, and that’s pushing the price of grain up, and that’s pushing the price of food up,” observed Matt Smith, lead oil analyst at Kpler, a research firm.

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