Record gas and diesel prices across the country are a major contributor to the kind of inflation not seen in 40 years. It’s worse in California, where both fuels cost more than anywhere else in the country.
Walmart, which operates a fleet of 7,400 diesel trucks, paid $160 million more for fuel than it expected in the first quarter, causing the retailer to post earnings that fell short of Wall Street expectations.
Skyrocketing fuel costs, of course, aren’t the only reason for 1980s-style inflation. Supply chain problems, brisk consumer demand and rising labor costs all have a hand in the problem, as the National Retail Federation noted in itsHere is a sampling of industries affected by surging diesel prices and how some of those higher costs reach consumers:
“We are trying to manage it as best as we can, but it is tearing into us,” said Greg Dubuque, who chairs the California Trucking Assn. in addition to being president of Liberty Linehaul West.Diesel is the workhorse of the construction sector, representing 98% of the industry’s energy consumption, according to the, a trade group that promotes diesel technology.
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