Rising fuel costs are a massive problem for business and consumers — Here’s why they’re so high

Posted on AllSides May 19th, 2022
From The Center
Liu Guanguan | China News Service | Getty Images

The surge in gasoline prices is impossible to miss and at the top of consumers’ minds as billboards announce that gas now costs $4, or $5, or even above $6 a gallon in some places.

With prices at record highs, Americans are feeling the impact at the pump immediately. But higher fuel prices are a headwind for the wider economy too, beyond just consumers having less spending money. The rising cost of fuel, especially diesel, means that anything transported on a truck, train or ship is affected. 

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