【US diesel rises to $6.2 per gallon; up 78% in nine months🔥】
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The average US diesel price has already surged to $6.2 per gallon, setting a historic high. Nine months ago, this figure was only $3.48—rising 78% in just nine months. In California, the situation is even more extreme: the local retail price for diesel has climbed to $8.14 per gallon. This round of increases surpasses the previous peak in 2022 and is the most expensive in the past four years. Low inventories meeting the peak season for the fall harvest is keeping prices pinned at high levels.
First, distinguish gasoline from diesel—these two things affect completely different groups of people. Gasoline mainly impacts our daily travel, while diesel powers trucks and the entire agricultural landscape. In the US, more than 70% of goods are transported by trucks, and diesel is the lifeblood of the logistics industry. From harvest in the fields to items on the shelves, every product requires an extra payment for diesel. When diesel goes up by one dollar, the cost to ship a load must be recalculated again. For long-haul truck drivers, fuel costs are the hardest to compress.
What’s really worth watching is how slowly—and how deeply—this chain of costs transmits. Diesel prices don’t enter CPI immediately, but they keep seeping into freight rates and warehousing costs. At the same time, Brent crude has already broken above $106, and the yield on the 30-year US Treasury has risen to above 5%. Market bets on further rate hikes have climbed to 64%, which is exactly the part the Federal Reserve fears most. Once this chain is set in motion, it won’t just stop on its own within a few weeks.
For crypto, higher diesel prices mean the inflation line hasn’t broken yet. Oil prices and freight rates rise together, and money will continue to bet on even higher interest rates. Risk assets are hit first—Bitcoin has already fallen from around $80,000 back to the vicinity of $77,000. Everyone is waiting for the September 16 rate decision. Without clarity on the direction, people are unwilling to rush in big. For those holding spot positions, what they’re waiting for now is direction, not headlines. Until inflation truly lands, crypto can only grind back and forth within a range.
Do you think this diesel price surge is a short-term accident, or the second leg of inflation? Let’s discuss in the comments.
Group chat: 📲 加入X先生粉丝群聊
The average US diesel price has already surged to $6.2 per gallon, setting a historic high. Nine months ago, this figure was only $3.48—rising 78% in just nine months. In California, the situation is even more extreme: the local retail price for diesel has climbed to $8.14 per gallon. This round of increases surpasses the previous peak in 2022 and is the most expensive in the past four years. Low inventories meeting the peak season for the fall harvest is keeping prices pinned at high levels.
First, distinguish gasoline from diesel—these two things affect completely different groups of people. Gasoline mainly impacts our daily travel, while diesel powers trucks and the entire agricultural landscape. In the US, more than 70% of goods are transported by trucks, and diesel is the lifeblood of the logistics industry. From harvest in the fields to items on the shelves, every product requires an extra payment for diesel. When diesel goes up by one dollar, the cost to ship a load must be recalculated again. For long-haul truck drivers, fuel costs are the hardest to compress.
What’s really worth watching is how slowly—and how deeply—this chain of costs transmits. Diesel prices don’t enter CPI immediately, but they keep seeping into freight rates and warehousing costs. At the same time, Brent crude has already broken above $106, and the yield on the 30-year US Treasury has risen to above 5%. Market bets on further rate hikes have climbed to 64%, which is exactly the part the Federal Reserve fears most. Once this chain is set in motion, it won’t just stop on its own within a few weeks.
For crypto, higher diesel prices mean the inflation line hasn’t broken yet. Oil prices and freight rates rise together, and money will continue to bet on even higher interest rates. Risk assets are hit first—Bitcoin has already fallen from around $80,000 back to the vicinity of $77,000. Everyone is waiting for the September 16 rate decision. Without clarity on the direction, people are unwilling to rush in big. For those holding spot positions, what they’re waiting for now is direction, not headlines. Until inflation truly lands, crypto can only grind back and forth within a range.
Do you think this diesel price surge is a short-term accident, or the second leg of inflation? Let’s discuss in the comments.
