00:00It's Benzinga, bringing Wall Street to Main Street.
00:03The national average price for diesel reached an all-time high of $6.51 per gallon Monday,
00:08as constrained global supplies raised costs for U.S. agriculture and trucking.
00:13In a post on X, economist Steve Hanke said,
00:16"...farm fuel costs have risen by $11 per acre for corn and $7 per acre for soybeans compared
00:21with last year."
00:22Independent trucking firms also face the threat of diesel-driven bankruptcies.
00:27The surge comes as traffic through the Strait of Hormuz fell to four vessels Monday from
00:32a pre-war average of roughly 125.
00:34Saudi Arabia's east-west pipeline also remains offline after a September 10th drone attack.
00:40Asian diesel margins crossed $87 per barrel, while New York diesel futures settled at an
00:45all-time high.
00:46For all things money, visit Benzinga.com.
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