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šŗšøā½ļø Soaring diesel prices rip across US economy
Rising fuel costs threaten new jolt of inflation ahead of Novemberās midterm elections
A surge in diesel prices is dealing a powerful blow to industrial America, pushing up costs for businesses and consumers across the US ahead of midterm elections.
The pump price of diesel ā the lifeblood of the economy because of its essential role in powering industry and agriculture ā hit $5.47 a gallon on Tuesday, approaching its all-time high of $5.82 as wars in the Middle East and Europe hobble production and throttle global supplies.
Prices have jumped 8 per cent in the past month while the gap between the cost of diesel and crude oil, known as the ācrack spreadā, has hit a record high in recent days in a sign of the deepening supply shock.
The price surge has driven up costs for truckers and farmers that are set to ricochet through the broader economy, reigniting inflation and squeezing already thinly stretched American consumers.
Rising fuel prices risk intensifying the political turmoil facing Donald Trump, as voters grow increasingly frustrated ahead of Novemberās midterm elections to decide control of Congress. A recent FT poll found most voters felt worse off under the president.
The new eruption of fuel inflation is also feeding into a sell-off in US government bonds, sending yields to multiyear highs and pushing up borrowing costs for average Americans.
The conflict has exacerbated existing diesel shortages driven by Ukrainian drone attacks onĀ Russian refineries, which have crimped production by one of the worldās biggest suppliers and caused Moscow to throttle exports.
US refineries have been running at full tilt in an attempt to fill the gap, shipping record volumes of fuel to global markets, which analysts said would be difficult to sustain because of falling inventories.
āThere is a huge amount of refining capacity offline in the Middle East and Russia,ā said Robert Campbell at Energy Aspects. Combined with lower exports from China, that has left the US as the āsupplier of last resortā.
With diesel production near its peak, analysts warned further disruption ā from the war, maintenance or hurricane damage ā could send prices spiralling.
Azerbaijan: This Turkish country has destroyed more Christian monuments than ISIS.
Based off satellite data, Azerbaijan erased 108 Armenian monasteries, churches and cemeteries - in just one region.
By comparison, ISIS destroyed dozens of churches.
How is this okay?
@NoAgendaLara
UPDATE: Outrage erupts as there has been a SURGE in Islamists ATTACKING and vandalizing Japanese shrines
Security footage shows people wearing HIJABS storming up and unleashing on the Soya Shrine in Hadano City
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ā Hypothetically, if the U.S. wanted to carry out a naval landing in Iran, they would do it somewhere outside the Persian Gulf, most likely Chabahar or somewhere else in the flat open coasts of Sistan-Balochistan Province.
That way, they donāt need to risk their ships entering the Persian Gulf under heavy anti-ship fire and incoming drones while trying to land their soldiers on a rugged coastline full of fortified positions and artillery emplacements.
In Chabahar, they could bring their ships close enough to the shore with relative safety, under heavy air cover. U.S. jets, drones, and attack helicopters would suppress any anti-ship batteries heavily, and create sufficiently safe conditions for the initial ālandingā. One also cannot rule out the possibility of deploying U.S. airborne forces to secure key sites before an amphibious landing is attempted.
This might be coupled with increased Balochi terrorist activity across the Iranian rear lines, complicating logistics and the transfer of ...
