Dem
51
Ties
3
GOP
46
Since the majority of Americans drive cars fueled by regular gas, as opposed to diesel, it is the price of regular gas that tends to be more visible, and that tends to be discussed more. However, the price of diesel fuel may actually be more important, both in terms of its direct impact, and in terms of its political impact. That is because most large vehicles, like the semi trucks that deliver food to grocery stores, are powered by diesel. Consequently, if diesel prices go up, then everyone pays the price. By contrast, if regular fuel prices go up, then people who don't drive, or people who drive electric vehicles, don't really feel the pinch.
Although regular fuel prices haven't gotten quite as out-of-control as feared, at least not yet, diesel prices are now in a very bad place. The national average, as of yesterday, is $5.85/gallon, which is a record. That breaks the previous record of $5.82/gallon, set in 2022.
We recognize, of course, that this is not an entirely fair comparison, because of inflation. The modern-day equivalent of $5.82 is $6.56. So, the diesel was still more expensive, relatively speaking, back in 2022 than it is right now. That said, the 2022 price came in the middle of a pandemic, whereas the current price is self-inflicted. Further, the 2022 figure was the absolute high point of the curve (which happened on June 17, 2022). But in 2026, there's no particular reason to believe that yesterday's figure was the ceiling, especially since diesel reserves are very low right now, while demand for diesel is relatively inelastic.
And the biggest problem, politically, is this: Diesel was $3.70 a gallon one year ago, which means that the price is up over $2/gallon (or about 60%) in just one year. The worst thing possible, for the political party in power, is if people notice a change in prices, particularly if that change is very sharply upward. It would be hard NOT to notice a change this big. And all the "give us your oil, Venezuela" deals in the world aren't going to change that. (Z)