EconomyUS Diesel Tops Record as Global Crunch Feeds Inflation

US retail diesel prices rose above $6.50 a gallon for the first time, extending a war-driven rally that is spreading through the world’s largest economy. Although most US motorists do not use diesel, it powers trucks, farm equipment, generators, boats and trains, and supports home heating. BNP Paribas Chief US Economist James Egelhof discusses the economic outlook and the impact of fuel costs.