Although prices at the pump serve as one of the most prominent symbols of rampant inflation, economists are more worried about the spillover effects of price spikes for another major source of fuel: diesel.
Diesel plays an outsized role in consumer prices because it and its chemical cousins, jet fuel and maritime fuel oil, move nearly everything that is grown, processed or manufactured around the globe."Diesel is what powers trucking. It is what powers our global economy," said Joseph Sykora, equity analyst at Aptus Capital Advisors."It can't be ignored in terms of how it's a feed-through into what things cost.
While electric vehicles have gained ground as an alternative to gas-powered passenger cars and trucks, Sykora said, fleets of trucks, planes and freighters are still powered by hydrocarbons."The technology doesn't exist at scale for EV transitions in higher-capacity transportation," he said.Diesel's domino effectThe high cost of diesel is rippling through corporate supply chains.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
2 injured in Amtrak train collision with excavator in East Oakland; diesel fuel spilledOakland fire crews are on scene after a collision between an Amtrak train and an excavator left two people injured in the area of 50th Avenue and East 8th Street.
Les mer »
Cummins Promotes Jennifer Rumsey To CEO As Diesel Giant Seeks Cleantech OverhaulShe succeeds longtime chief Tom Linebarger as the largest maker of diesel engines for trucks and heavy-duty vehicles looks to become a major player in electric and hydrogen-fueled commercial vehicles.
Les mer »
Yankees doomed by extra-inning wild pitch in series-opening loss to Red SoxIn a season in which they did almost everything right in the first half, the Yankees are finding out how the other half lives.
Les mer »
Costco Is Raising the Price of Another Beloved Item Soon — Eat This Not ThatNot everything at Costco has a fixed price and the warehouse has just announced it will be raising the price of Forever Stamps soon.
Les mer »
'Merge' rally pushes Ethereum almost to $1,400Traders were pouring into Ether after the release of a soft timeline for the long-awaited 'merge.'
Les mer »
New President of Fashion Style Named for Ugg and KoolaburraDeckers Brands, which makes Ugg boots and Koolaburra sandals, recently named Anne Spangenberg the brands’ new president of fashion lifestyle.
Les mer »