Record U.S. diesel prices threaten to push costs up across the broader economy

Diesel fuel hit an all-time U.S. high of $6.31 per gallon on Wednesday, following the outbreak of war with Iran earlier this year, with prices reportedly reaching $8 in California. Trucking and rail firms, including Norfolk Southern, are already feeling the strain, and economists warn that since diesel underpins freight and logistics, the price surge will eventually raise costs across consumer goods and gas pump prices nationwide.