Diesel Prices Hit Record Highs | San Jose News

0:00We're seeing some wild numbers at the pump, especially for diesel. In San Diego, one station was actually selling it for $9.99 a gallon. That's the kind of price that makes you do a double take. And honestly, the signs there can't even display higher numbers. This isn't just a local thing. It's a sign of a bigger crisis hitting supply chains. Across California, the average price for diesel just broke $8.00 a gallon, a new record. Nationally, we're seeing averages above $6 for the first time ever. This is all happening as global conflicts mess with energy supplies, making things tough for everyone. Businesses that rely on diesel, for moving trucks to heavy machinery, are feeling the pinch. Their fuel bills have nearly doubled in some cases, but they can only pass on a fraction of that cost to customers. People are already struggling with high prices and adding more to the bill just isn't an option for many. California already has some of the highest fuel costs in the country due to various factors,

1:00but these current prices are particularly brutal. Stockpiles on the west coast are at their lowest point in over two decades, and that's driving up the cost to futures contracts. This situation is making it hard for small business owners to stay afloat. Some are having to raise their prices significantly, and even then, loyal customers are starting to walk away because they simply can't afford the increased cost of services. It's a tough cycle when essential operating costs skyrocketing. This has been San Jose News Today, powered by AI.