North Texas diesel prices reach a record high
Diesel in North Texas has climbed to a record $6.23 to $6.27 a gallon, with one truck stop along Interstate 20 charging $6.25 on Tuesday, about 25 cents more than a week earlier.
The jump is hitting truckers and local businesses. Drivers said filling a tank now costs nearly $1,000, cutting into profits, and some told reporters they could not afford a full fill-up and hoped to make it to the next stop. BJ Johnson, who owns J Imperium Ready Mix, said higher diesel costs are pushing up the price of concrete because fuel is needed both to collect materials and deliver the product.
SMU economist Mike Davis said the surge should concern more than the trucking industry because diesel costs can feed into inflation through higher business expenses and eventually higher prices at store checkouts. He also said interest rates could rise this week as inflation tied to fuel costs grows. U.S. diesel prices averaged nearly $6.06 a gallon on Friday after fighting between the U.S. and Iran disrupted global oil supplies.
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