Inflation surged in September as U.S. energy costs jumped
Gas prices, which jumped 9.1% in September from August, accounted for more than half the monthly rise in inflation.
Watch CBS News
Gas prices, which jumped 9.1% in September from August, accounted for more than half the monthly rise in inflation.
The San Francisco-Marin Food Bank said it is now spending about $29,000 a month on diesel fuel, roughly $10,000 more than usual as the cost of fueling its delivery trucks surges.
President Trump said he is "very seriously" considering a ban on diesel exports. But such a move could drive U.S. gas prices sharply higher, analysts said.
Some lawmakers want to halt U.S. diesel exports as prices top $6.50 a gallon. But such a ban could have unintended consequences, experts say.
The Iran-backed Houthis expanded their control over the strategy Bab-el-Mandeb strait, as strikes continued in the Strait of Hormuz.
Record-high diesel prices are putting new pressure on trucking companies and consumers, with economists warning that the rising cost of moving goods could soon lead to even higher prices at grocery stores and elsewhere.
A man from California's Central Coast has been arrested after he allegedly stole at least 1,000 gallons of diesel fuel from local farms.
The cost of diesel fuel is nearing $8 per gallon in parts of California, creating significant pressure on small trucking companies already struggling.
The average price of gas across the U.S. last reached $4 after Russia's invasion of Ukraine sent crude oil prices surging.
In his inaugural address, President Trump took aim at California's mandate banning gas-powered vehicles. But even before he was sworn into office, the state accepted the new reality and abandoned a similar plan to ban diesel trucks.
The U.S. Environmental Protection Agency this week announced over $91 million in rebates for school districts across California to purchase electric school buses.
State and federal officials announced Wednesday a "landmark settlement" that will yield the largest-ever civil penalty under the Clean Air Act and the second largest in federal environmental litigation.
School buses run on diesel and can be heavy polluters, releasing harmful gases into the air while ferrying millions of children. Around the country, there's a push to switch the buses to electric options. Manuel Bojorquez has more.
