US Diesel Tops Record as Global Crunch Feeds Inflation
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US retail diesel prices topped $6.50 a gallon for the first time, extending a war-driven rally that's rippling through the largest economy. Most US drivers don't pump diesel into their cars. But the fuel which goes into trucks, agricultural equipment, power generators, boats, trains, and home-heating systems touches nearly every part of the economy. James Egelhof, Chief US Economist at BNP Paribas, discusses US economic outlook and how fuel prices are impacting the economy.