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'How are we gonna get through this?' Americans face tough decisions as diesel and gas prices rise
ABC News - Breaking News, Latest News and Videos • • business
Key Points:
- Rising diesel and gasoline prices in the U.S., driven by tensions related to the war with Iran, are causing significant financial strain for American families, truckers, and farmers.
- Gas prices have increased by $1.42 since February 28, reaching an average of $4.36 per gallon, while diesel prices hit a record high of $6.30 per gallon.
- Truckers face sharply increased fuel costs, with every $1 rise in diesel adding about $400 per tank, squeezing already slim profit margins and leading to higher consumer prices.
- Farmers, such as John Bartman in Illinois, are struggling with soaring diesel and fertilizer costs, impacting crop production and threatening the future of family farming.
- Many Americans, including families with special needs children, are forced to make difficult budget compromises, with some considering relocating due to the economic pressures.
