Michigan diesel prices surge to record $6 a gallon
Updated
Updated · Newsweek · May 3
Michigan diesel prices surge to record $6 a gallon
10 articles · Updated · Newsweek · May 3
Patrick De Haan said Sunday’s average topped the 2022 high, after AAA put Saturday’s statewide diesel price at $5.963 and a week-ago level at $5.128.
The spike is squeezing truckers, farmers and manufacturers as planting season lifts fuel use, with farm operating costs up 15% to 25% from last spring.
Analysts cite tight refining capacity, strong freight demand and Hormuz disruptions; if prices stay high into summer, economists warn freight, food and broader inflation pressures could intensify.
With diesel crippling the supply chain, will this oil crisis finally force the switch to cheaper, cleaner electric trucks?
As a Mideast war chokes global oil supply, is the world now on the brink of a major food and economic crisis?