Diesel prices prompt rising trucking rates

(iStock.com/THEPALMER)

Shipping costs are rising nationwide, primarily due to U.S. trucking rates reaching their highest level since 2022 as diesel prices surge and driver shortages persist.

The increases are expected to ripple through the economy, raising prices on everything from groceries to big-ticket goods and adding fresh pressure to already elevated inflation. Read more from Bloomberg. A subscription may be required.