Diesel prices hit yet another new record on Wednesday at $5.43 per gallon , now some $1.2 more than a gallon of gasoline, according to AAA. While high prices at that pump for gasoline have somewhat leveled off, diesel continues to steadily rise, causing an increase in prices of consumer goods because it fuels the trucks that transport an estimated 70% of consumer goods freighted in the United States. With diesel prices now up more than 75% from the year-ago average, Syracuse University supply chain expert Professor Patrick Penfield told New York’s WGRZ that there is usually a “correlation”. “Every 10% that fuel prices go up there’s a point three percent increase in inflation. So that’s what consumers are going to see – you’re gonna keep seeing prices go up,” Professor Penfield said. Soaring diesel prices are further threatening the supply chain along with the trucking industry. Citi noted […]