Monday, August 28, 2023

"Rising diesel prices a 'hidden tax' on consumers as energy stokes inflation worries"

The stuff helps move pretty much everything.

From Yahoo Finance, August 28:

Diesel prices have risen to their highest levels since March and are showing no immediate signs of easing their upward trend.

The national price of diesel was at $4.38 per gallon as of Monday, $0.41 higher from a month ago, according to data from AAA.

"As we go into the fall agricultural harvest season and the winter heating months, refinery outages can have a significant impact on diesel supplies and put upward pressure on prices, stoking inflation," Andy Lipow of Lipow Oil Associates told Yahoo Finance on Monday.

"The cost of diesel is a hidden tax on all the goods and services the consumer buys as higher prices are passed through."

Part of the upward pressure is due to recent refinery disruptions.

The latest interruption came last week after a fire at Marathon's Garyville, La., refinery caused a partial shutdown of the facility, the fourth largest in the country....

....MUCH MORE

Recently:
"Our Oil Predicament Explained: Heavy Oil and the Diesel Fuel it Provides Are Key"

And possibly of interest, 2011's Bill Gates Reviews Vaclav Smil's "Prime Movers of Globalization: The History and Impact of Diesel Engines and Gas Turbines