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Record diesel prices affecting North Country business
WWNY • • business
Key Points:
- Diesel prices nationwide have surged to a record average of $6.23 per gallon, marking a 60% increase from last year's $3.69 average, significantly impacting local businesses like Derrigo Service Center in Hounsfield, New York.
- Derrigo Service Center, which operates several tow trucks daily, is closely monitoring fuel prices and avoids filling their tanks during volatile price fluctuations, currently seeing prices much higher than their stable benchmark of around $4 per gallon.
- The business has not implemented a fuel surcharge for customers despite rising costs and hopes prices will decrease before the high-mileage winter season begins.
- Geopolitical tensions, including the Russia-Ukraine war and conflicts involving the U.S. and Iran, along with disruptions like the Saudi oil pipeline attack, are contributing to global diesel price increases.
- The Watertown area set a local diesel price record of $6.49 per gallon in May 2022; current prices at $6.16 per gallon remain near historic highs without adjusting for inflation.
