CEA’s latest report “Fueling America’s Energy Consumers” highlights the often-overlooked fact that oil and natural gas provide the majority of energy used in the transportation sector, and when the price of oil rises due to external factors like supply disruptions and geopolitical events, the price of transportation fuels also rises.
As little as a one-cent increase in the average price of diesel fuel can add up to another $350 to $370 million per year in fuel costs across the shipping industry — eventually making its way across the supply chain and into the price of products we purchase at the grocery store.
Read more – Washington Examiner
