- "Diesel prices will raise the price of everything that is shipped and are already having an influence," said James Williams, an economist at WTRG Economics.
"Almost anything in the grocery store will show the impact of higher transportation costs," he said.
The country's average diesel-fuel price topped a never-before-seen $3 a gallon this past week, according to data from AAA's Daily Fuel Gauge Report. Prices stood at a record $3.197 on Friday. See the Daily Fuel Gauge Report.
Transportation nightmare: The impact on the transportation industry becomes more apparent when you look at the numbers.
A tractor trailer has two 150-gallon tanks and averages 5 miles per gallon...
Rudolph Diesel envisioned two things with his invention: Higher efficiency and bio fuel. Diesel-powered automobiles can achieve both. Remember, you're not pulling 13-60 tons, the description of a semi-tractor trailer in Illinois. As for bio-diesel, from what I'm told, you can convert a diesel fuel-powered engine to run on peanut- or french fry oil with a kit.
Once there, consumers finally begin to get Big Oil by the nuts (pun intended), and when that happens, we start to break out of this oil-driven energy market and consumers will drive the prices again.
Why isn't Denny Hastert talking about these things from behind the mike every single day? It's Friday. The work week is almost over in D.C. Do you know where your Speaker of the House is today?