U.S. Gas Jumps to $4.44 as Diesel Hits Record $6.40 on Supply Squeeze
Updated
Updated · CBS New York · Sep 17
U.S. Gas Jumps to $4.44 as Diesel Hits Record $6.40 on Supply Squeeze
3 articles · Updated · CBS New York · Sep 17
Summary
$4.44 a gallon became the U.S. gasoline average Thursday after a 7-cent overnight jump, while diesel reached a record $6.40 and could climb to $6.60 this weekend.
Energy analysts tied the surge to wars involving Iran and Ukraine, Houthi attacks on Saudi Arabia's East-West pipeline, and reduced refining capacity in the U.S. and abroad.
A Chicago-area ExxonMobil refinery outage added pressure in the Midwest, while California diesel averaged $8.35 and state gasoline prices stayed above $6 a gallon.
Diesel's rise threatens broader inflation because trucking, rail, construction and heating oil depend on it; about 4 million Northeast households use heating oil derived from diesel.