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Retail diesel prices in the United States have reached a record high, AAA data show. The benchmark matters well beyond the pump.
Diesel is the working fuel of freight and agriculture, so a record print lands as a direct cost shock across the supply chains that move goods from producers to shelves.
Diesel's footprint in the physical economy runs wider than gasoline's. Passenger cars run mostly on gasoline.
Trucks, trains, farm equipment, and marine vessels run on diesel, which means a record retail price is effectively a surcharge on every ton-mile of freight moved across the country.
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