Record diesel prices raise fears of US fuel shortages

Global diesel prices have reached record highs, with further increases possible. In the US, these soaring costs are triggering fears of fuel shortages and straining supply chains, which may impact crude oil demand. John Boyd Jr. of the National Black Farmers Association reports that these prices are deepening a farm crisis during harvest season. Additionally, high fuel costs have significantly impacted J.B. Hunt’s quarterly results as truckers struggle to raise prices quickly enough.