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Diesel prices in California soared to a record level. The average price of oil in the entire state exceeded 8 US dollars per gallon, and the price at a gas station in San Diego reached 9.99 US dollars. Shortage of fuel supplies, declining refining capacity, limited pipeline capacity, and the state's high taxes have exacerbated the crisis, while global conflict has further strained the energy market. The rise in diesel prices has hit industries that are highly dependent on diesel, including freight, moving and construction companies. As fuel costs soar, many companies are forced to raise prices or accept shrinking profits, driving up inflation, and increasing the cost for ordinary consumers to buy goods and services.
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Diesel prices in California soared to a record level. The average price of oil in the entire state exceeded 8 US dollars per gallon, and the price at a gas station in San Diego reached 9.99 US dollars. Shortage of fuel supplies, declining refining capacity, limited pipeline capacity, and the state's high taxes have exacerbated the crisis, while global conflict has further strained the energy market. The rise in diesel prices has hit industries that are highly dependent on diesel, including freight, moving and construction companies. As fuel costs soar, many companies are forced to raise prices or accept shrinking profits, driving up inflation, and increasing the cost for ordinary consumers to buy goods and services.
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