US Diesel Tops Record as Global Crunch Feeds Inflation
US retail diesel prices topped $6.50 a gallon for the first time, extending a war-driven rally thatโs rippling through the largest economy. Most US drivers donโt pump diesel into their cars. But the fuel โ which goes into trucks, agricultural equipment, power generators, boats, trains, and home-heating systems โ touches nearly every part of the economy. James Egelhof, Chief US Economist at BNP Paribas, discusses US economic outlook and how fuel prices are impacting the economy. (Source: Bloomberg)