Morning Jolt: Why Diesel-Fuel Costs Are Really Rising

On the menu today: You've heard a lot about gas prices, and hopefully at some point you've noticed that, as bad as it is to fill up your sedan or SUV, the cost of diesel fuel is skyrocketing even faster. Today, we're taking a deep dive into why diesel-fuel costs are rising so quickly — and no, President Biden, it's not just because oil companies are "greedy." It has a lot to do with the shutdown of six refineries, the upcoming closure of a seventh, and the fact that the U.S. has built only one new oil refinery since 1977.

Diesel, Diesel, Diesel

Because the president has informed us that he is not a mind-reader, and thus cannot foresee problems such as the infant-formula shortage, allow me to assist him by putting a spotlight on the next giant flashing neon sign of trouble that he and his team should be watching closely: the cost of diesel fuel.

As of this morning, the national average cost of a gallon of diesel fuel is $5.57 — which is the record high, according to the American Automobile Association ...

WITH JIM GERAGHTY May 17 2022 WITH JIM GERAGHTY May 17 2022 Why Diesel-Fuel Costs Are Really Rising On the menu today: You've heard a lot about gas prices, and hopefully at some point you've noticed that, as bad as it is to fill up your sedan or SUV, the cost of diesel fuel is skyrocketing even faster. Today, we're taking a deep dive into why diesel-fuel costs are rising so quickly — and no, President Biden, it's not just because oil companies are "greedy." It has a lot to do with the shutdown of six refineries, the upcoming closure of a seventh, and the fact that the U.S. has built only one new oil refinery since 1977. Diesel, Diesel, Diesel Because the president has informed us that he is not a mind-reader, and thus cannot foresee problems such as the infant-formula shortage, allow me to assist him by putting a spotlight on the next giant flashing neon sign of trouble that he and his team should be watching closely: the cost of diesel fuel. As of this morning, the national average cost of a gallon of diesel fuel is $5.57 — which is the record high, according to the American Automobile Association ...   READ MORE

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