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The Wall Street Journal
Sliding Diesel Prices Signal Warning for U.S. Economy
A nationwide freight slowdown has helped cut U.S. diesel prices by half from last year’s record, raising concerns that parts of the world’s largest economy have begun to slow. Record diesel costs made it more expensive to operate excavators at construction sites, run machinery on farms, and haul goods from ports, rail yards or factory floors. Now—with the Federal Reserve trying to cool business activity by raising interest rates—waning manufacturing output and trade have also dented U.S. appetite for the fuel.
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