America Only Has 25 Days of Diesel Supply Left
(TheRedWire.com) – A new threat to the US economy looms with less than two weeks to go until the 2022 midterm elections. Over the last year, high gas prices have walloped Americans at the pump, and the fuel costs remain on everyone’s mind. Still, diesel prices hit the US economy even harder, threatening the country’s shipping industry. The nation’s supply chain depends on trucks moving supplies so markets and stores can keep their shelves stocked and farmers and manufacturers can continue supplying American needs. However, recent reports indicate that America only has 25 days of diesel supply on hand.
Diesel may be the largest contributor to inflation and accounts for a large share of the price increases at the grocery store. If fuel runs out, the supply chain could buckle, and the products on the shelves could decrease. The supply is the lowest since 2008, and demand continues to surge.
— Deneen Borelli (@deneenborelli) October 23, 2022
The news comes as the November 8 election grows closer each day. Between now and then, consumer prices could rise higher as the cost of diesel increases. On June 19, AAA said the price of a gallon of diesel hit a record high of $5.816 per gallon. On Monday, October 24, it was $5.326 per gallon.
National Economic Council Director Brian Deese recently said inventories were “unacceptably low” and stated that all options were on the table to avert a crisis despite not taking an active approach to the problem.
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