U.S. Faces Inflation Timebomb Poised To Explode Before Holidays

After two difficult years for the global economy and in the midst of an energy crisis fueled by the Russian invasion of Ukraine, U.S. diesel inventories are currently “unacceptably low,” National Economic Council Director Brian Deese said on Bloomberg TV last week.

This supply crunch is raising concerns among analysts and energy experts of an incoming slowdown of the U.S. economy, which could be exacerbated by the national strike planned by railroad workers for mid-November.

And in May and June, diesel and gas prices reached record highs, threatening to bring shipping and logistics to a grind and harming drivers’ at the pump.