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With record-high diesel prices, companies are passing the costs on to Ohio consumers, expert says

diesel prices
Posted at 6:01 PM, May 02, 2022
and last updated 2022-05-02 18:55:00-04

CLEVELAND — The average cost of a gallon of diesel reached an all-time high at $5.18 per gallon, according to the American Automobile Association.
Diesel reached the historic level on Friday, April 29, according to AAA.

The price of moving everything from food to furniture is rapidly rising and it’s driven by diesel prices, said Michael Goldberg, Associate Professor at Case Western Reserve University.

“Companies have really passed it on to consumers,” he said.

Independent truck driver Chris Lower is paying more at the pump now than ever before.

“I was paying $700 a week for diesel two years ago. I’m now paying upwards of $1,700 to $2,000 a week,” Lower said.

The higher fuel prices coupled with the highest inflation in 40 years has some Ohioans making choices.

“They’re faced with very difficult decision making in terms of paying perhaps what is a higher mortgage rate as interest rates have gone up,” Goldberg said. “Their credit card debt and those interest rates may have gone up. So, it’s a really difficult time period."

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