Diesel surged 63% to a record $6.05 a gallon, threatening to push grocery prices higher through a delayed transportation cost feedback loop.
Iran's disruption of Strait of Hormuz shipping drove crude above $100 a barrel, with fall harvest and holiday demand set to intensify pressure.
Fifth Third's chief economist Bill Adams warns record diesel could force the Fed to raise rates at its September 16 FOMC meeting.
Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now. The report is free. Enter your email and see if any of your stocks made the cut.
Diesel prices have officially crossed a threshold that should make investors and consumers nervous. The national average surged to about $6.05 a gallon on Friday, setting an all-time record and marking a stunning escalation from roughly $3.70 a year ago.