Diesel Escalates to 9-Year High in the US before Massive Crop Season
According to Bloomberg News, the US truckers and farmers are shelling out a price that is the highest in nine years for diesel after oil surged over $100 per barrel as sanctions intensified against Russia.
Present and future of diesel The average retail price of diesel increased to $4.016 per gallon on Tuesday, the highest it reached since late March 2013. The Ultra-low sulfur diesel futures traded at $3.12008, the highest in eight years, and recorded $3.2008 on Tuesday. This is not a good omen for the consumers because the price of pumps monitors the futures within the next few weeks.