U.S. Fuel Price Spike Adds $878 Million a Day to Consumer Costs

1 articles · Updated · pvtimes.com · May 29

$878 million a day is the estimated extra amount U.S. consumers and businesses are paying for fuel, based on higher prices for gasoline, diesel and jet fuel.
George Tucker calculated the figure using daily consumption of 374 million gallons of gasoline, 189 million of diesel and 63 million of jet fuel, applying added costs of $1 a gallon for gas and $2 for diesel and jet fuel.
$752 million of that increase comes from gasoline and diesel alone, which he estimates at about $2.70 a day per registered vehicle, or roughly $18 a week across 280 million vehicles.
The estimate excludes heating oil because of seasonal swings, though Tucker said its annual use is about 18% of total fuel consumption and could lift the overall burden further.
Tucker said the added fuel bill is already feeding through to other prices such as airfares, raising pressure on households least able to absorb higher transport and energy costs.

With AI and global conflict both driving up energy bills, is the era of affordable American energy now over?

A single conflict crippled fuel prices. What other hidden vulnerabilities exist in our global energy supply chains?

As AI's energy thirst strains the grid, can it become efficient fast enough to prevent a nationwide power crisis?