COLUMBIA − Diesel prices hit an all-time average high on Friday, reaching $5.16 a gallon. The national average price is now $1 higher than gasoline prices.
The $1 difference between average diesel and gasoline prices is the largest gap between the two oils since November 2008. Shipping manufacturers, agriculture equipment and even some larger vehicles can all expect to pay more at the pump with diesel increasing.
Patrick DeHaan is the head of petroleum analysis at GasBuddy. He explained how the diesel price increase could trickle down and affect the average consumer.
“While gasoline prices get much of the attention, diesel has quietly surpassed its recent record high,” DeHaan said. “That’s going to affect shipping prices because it will cost more to transport something, so customers can expect to pay more when shipping.”
Diesel prices hit an average high both nationally and in Missouri. Diesel prices at the pump hit $4.856 on Friday.
Chad Roberts is the owner of Postal & Shipping Express in Columbia. He said he expects the average price of shipping to go up.
“Each shipping carrier has a fuel surcharge, and if that goes up because diesel prices go up, shipping prices will also go up,” Roberts said. “The average price of sending a package could increase from $5 to $10.”
On top of diesel prices going up, inflation has increased the cost of basic shipping materials.
“All prices have increased during the pandemic, cardboard paper, boxes, all those kind of things have all gone up multiple times,” Roberts said. “I have some costs I’m sure I’ll have to unfortunately put on my customers so I can make a profit.”
Wendell Belisle is a runner and porter at Petro Travel Center in Kingdom City. He said he sees diesel prices affecting the number of truckers filling up.
“We’re not seeing as much business,” Belisle said. “Nobody wants to transport anything because they can’t afford it.”
The price increase in diesel and gasoline comes after President Joe Biden banned all imports of Russian oil, gas and coal. Russian invasions into Ukraine continue and world leaders continue to impost additional sanctions on the Kremlin.
“Russia’s war on Ukraine causing Western countries to sanction Russia is basically fencing off all of Russia’s oil and Russia is one of the world’s largest oil producers,” DeHaan said. “It’s a lot of oil to be put off the table.”
