Paycheckology Explains: Why Diesel Prices Have Such a Big Impact

If you thought the price of regular gasoline was cringe-worthy, the next time you’re paying through the nose for driving your Toyota hatchback be sure to take a gander at the diesel pump. 

Why are diesel prices so high and why is this SO bad for Paychecks? Here’s the Five Fast Facts:

  1. 😢😭We don’t want the trickles! Over 70% of everything from food to footwear gets to the store by truck. So, the rising cost of diesel means the cost of everything is going to rise even more. This trickle effect will make the inflation rate – which is already at its highest point in 30 years – even worse. This month it’s hurting truckers…but in the next few months it’ll hurt everyone who dares to eat food or wear shoes.
  2. 🛢️🛢️How bad is it? The national average cost of diesel is around $5.52 per gallon now, an increase of over $2/gal from just last year (and more than double what it was in 2020). That’s bad, real bad. Like Space Jam: 2 bad.
  3. ⚖️Why, oh why?? It’s mostly supply and demand. Not enough diesel for all the things that run on diesel.  And the reality that more nations are phasing out Russian oil  isn’t helping the prices…
  4. 🚚How much we talkin’ bout? Small trucking companies (about 95% of all trucking in the country) are hit the worst. They don’t have much wiggle room in their profit margins…and right now filling up a semi’s tank costs more than double what it did just two years ago! O.U.C.H.
  5. 🥫🥔Ah, tr*ck. ! You’re right. This *trucking* sucks. The USDA predicts some ugly food price increases: beef, pork, and poultry will be almost 20% more expensive than they were in 2020, eggs and fish almost 15% more, and fruits, cereal, and baked goods will be up over 10%.

🔥Bottom line: This might get painful for all of us, (well, only those of us who eat food or do… anything other than breathe) but there are still some things you can do to make it a little less painful, like starting a garden, buying generic groceries, or reducing your energy usage. Every little bit helps!

Sorry to be such a downer, but better to be informed than blissfully ignorant, right? No? Well, then let me sell you this big ol’ truck over here, it gets GREAT gas mileage…

How else are you coping with rising prices?

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