Iran-backed rebels in Yemen captured the strategic Perim Island in the Bab al-Mandeb Strait on Friday, two Yemeni government sources told CNN, potentially expanding Tehran’s influence over another key global shipping route. Meanwhile, The price of diesel, the workhorse fuel that powers the world economy, topped $6 a gallon on Friday for the first time ever. The price point may be invisible to most American drivers, but will likely lead to higher costs for most things consumers buy. 0:00 Prices continue to rise as inflation worsens 3:26 Panel discusses inflation's effect on American consumers 6:15 The reality of President Trump's $5,000 promise 8:49 Trump tells Republicans to "cheat like hell" Watch 24/7 live news with CNN Headlines:…
The record price of diesel threatens to stoke inflation at a time when consumers are already price-sensitive and businesses are reeling from higher costs due to trade tensions. Why it matters: Diesel is a key cost throughout the supply chain, meaning soaring prices could eventually show up in what consumers pay for everything from groceries to household goods. Driving the news: The national average price of a gallon of diesel topped $6 for the first time ever, AAA said Friday, Axios' Ben Berkowitz reports . - That's up 60% from a year earlier. Between the lines: Food prices could be among the first places consumers feel the ripple effects, executives said this week. - At grocery chain Kroger, which has been trying to keep a lid on…
Diesel prices in the U.S. has hit yet another record, soaring past $6 a gallon on average as Washington’s war with Iran disrupts the world’s flow of fuel
Cuba is struggling through its worst energy crisis in living memory as the US-imposed blockade on oil continues. CNN’s Patrick Oppmann’s night drive through Havana reveals a city increasingly plunged into darkness, with exasperated residents enduring hot, sleepless nights without power.
The national average price of a gallon of diesel jumped over $6 for the first time ever, AAA said on Friday. Why it matters: The fuel that runs the economy is getting more expensive by the day, costing businesses and consumers alike billions of dollars. - While the $6 threshold is more psychological than anything else, it points to months of continued pain for drivers, shippers and shoppers. Data: AAA; Chart: Ben Geman/Axios Driving the news: At $6.0556 a gallon, diesel is about 14% more expensive than it was a month ago and over 60% more than a year ago. - That is starting to show up in other prices, as has long been feared; inflation data out Thursday showed sharp spikes in transportation and warehousing costs, for example. Stunning…
