{"id":1468916,"date":"2022-05-09T13:29:34","date_gmt":"2022-05-09T17:29:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1468916"},"modified":"2022-05-09T13:29:41","modified_gmt":"2022-05-09T17:29:41","slug":"diesel-prices-hit-all-time-high-meaning-soon-so-will-the-costs-of-everything-you-buy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/diesel-prices-hit-all-time-high-meaning-soon-so-will-the-costs-of-everything-you-buy\/","title":{"rendered":"Diesel Prices Hit All-Time High, Meaning Soon So Will The Costs Of Everything You Buy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdiesel-prices-hit-all-time-high-meaning-soon-so-will-the-costs-of-everything-you-buy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1468916&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/05\/29613539798_3bce1a8b5f_k-e1652113456327.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Diesel prices reached a nationwide average of $5.54 per gallon on Monday, setting a new all-time record, <a href=\"https:\/\/gasprices.aaa.com\/\">according<\/a> to AAA travel agency\u2019s gas tracker. In March, the cost of regular unleaded fuel remained less than half a cent from its record high of $4.33 per gallon, at $4.328 on Monday.<\/p>\n<p>These high fuel costs are just the first devastating drop, the negative effects of which will ripple throughout the entire economy, with increased transportation prices adding stress to inflationary pressures already shooting up the cost of goods and services. In March, the year-over-year inflation was marked at <a href=\"https:\/\/thefederalist.com\/2022\/04\/12\/bidenflation-reaches-four-decade-high-after-climbing-8-5-percent-since-last-march\/\">8.5 percent<\/a>, the highest rate since 1981. Bloomberg Economics predicts that U.S. households will spend another\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-29\/u-s-households-face-5-200-inflation-tax-this-year-chart\">$5,200<\/a> this year, or $433 a month, for the same basket of goods as last year.<\/p>\n<p>While diesel prices might not immediately alarm many consumers who rely on regular unleaded gasoline for routine transportation, tankers, trains, trucks, farming machinery and other industrial equipment rely on diesel.<\/p>\n<p>\u201cDiesel is the fuel that powers the economy,\u201d Patrick De Haan, the chief petroleum analyst at GasBuddy, <a href=\"https:\/\/www.cnbc.com\/2022\/05\/07\/diesel-fuel-is-in-short-supply-as-prices-surge-heres-what-that-means-for-inflation.html\">told<\/a> CNBC. These increased costs are \u201ccertainly going to translate into more expensive goods.\u201d<\/p>\n<p>Despite the price increases, the Biden administration has continued to antagonize the oil and gas industry with a cascade of new taxes and regulations that hamper production. <\/p>\n<p>In April, President Joe Biden\u2019s Department of the Interior <a href=\"https:\/\/thefederalist.com\/2022\/04\/21\/why-bidens-court-ordered-resumption-of-oil-and-gas-leases-wont-bring-down-prices\/\">released plans<\/a> to resume oil and gas leases on federal lands in compliance with a court order following a 15-month suspension. The agency\u2019s compulsory sales offered only 20 percent of the lands that were initially nominated and approved for leasing, complemented by a 50 percent spike in royalties from minerals extracted. <\/p>\n<p>Despite moving forward, the administration has been clear about its desire to shut down the federal lease sales. These sales were only scheduled after a federal judge in Louisiana <a href=\"https:\/\/apnews.com\/article\/joe-biden-climate-change-environment-and-nature-business-9751c4909a8b1baba28f3bcff9d5fa6e\">deemed<\/a> the administration\u2019s pause on them illegitimate last summer.<\/p>\n<p>\u201cWe don\u2019t feel they are needed,\u201d explained White House Press Secretary Jen Psaki, even as Psaki and the president repeatedly blame Russia\u2019s war in Ukraine as the reason for rising prices with the motto \u201c<a href=\"https:\/\/abcnews.go.com\/Politics\/biden-blames-putins-price-hike-gas-prices-depend\/story?id=84034646\">Putin\u2019s price hike<\/a>.\u201d<\/p>\n<p>White House climate adviser Gina McCarthy has been even more explicit.<\/p>\n<p>\u201cPresident Biden remains absolutely committed to not moving forward with additional drilling on public lands,\u201d McCarthy said on MSNBC. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><\/figure>\n<p>The left\u2019s animosity to oil and gas exploration has chilled investment in the labor- and capital-intensive industry, cooling production in the process even as prices skyrocket. To suppress gas prices ahead of the November midterms, President Biden ordered the self-proclaimed \u201cunprecedented\u201d release of stored crude from the nation\u2019s emergency stockpile, with 1 million barrels put on the market daily for the next six months beginning next week. <\/p>\n<p>The president has offered no plans to restock the emergency reserves.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Tristan Justice is the western correspondent for The Federalist. He has also written for The Washington Examiner and The Daily Signal. His work has also been featured in Real Clear Politics and Fox News. Tristan graduated from George Washington University where he majored in political science and minored in journalism. Follow him on Twitter at @JusticeTristan or contact him at Tristan@thefederalist.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Diesel prices reached a nationwide average of $5.54 per gallon on Monday, setting a new all-time record, according to AAA travel agency\u2019s gas tracker. In March, the cost of regular<\/p>\n","protected":false},"author":494,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1468916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1468916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1468916"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1468916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1468916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1468916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1468916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}