AAA reports the price of diesel reached a record $6.1 per gallon in Midland and Odessa on Wednesday, leaving many drivers frustrated with no decline in sight.
ODESSA, Texas — Gas station meters in West Texas are reading diesel prices that the region has never seen before.
According to AAA, the average price per gallon set the all-time record of $6.10 in Midland and Odessa on Wednesday. AAA also reports diesel prices have skyrocketed by almost a dollar since just last month.
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While the cost of regular unleaded has yet to reach the historical marker of $4.89, meters on Wednesday read around $4.10. That’s nearly three dimes higher than last week and pushing a $1.50 more than this time last year.
“It was over a thousand dollars,” said a chemical hauler. “It’s a lot. It’s a lot to spend on one fill-up.”
Freddie Espinoza says he’s now spending around $600 a month to fill up his personal diesel truck.
The pain at the pump only hits harder in the Permian Basin, where the oil and gas business survives on large trucks hauling millions of products weekly. The chemical hauler says rising fuel prices then get passed onto the consumer because companies get a surcharge.
With frequent fill-ups adding up to never-before-seen heights, Michael Lozano of the Permian Basin Petroleum Association says the industry is facing real challenges keeping up with the global market.
“There’s kinda this myth of how high prices are good for the industry,” said Lozano. “They’re not. High prices are not good for anybody. What we want is a reasonable, sustainable prices that allows operators to still have a profit but continue invest in the region that also doesn’t create price shocks for consumers.”
That energy shock continues to be a direct response to the escalating conflicts in Iran, Saudi Arabia, and Ukraine. According to a recent Brown University study, gas prices have spiked 46% and diesel has climbed 72% since the start of the Iran war, costing Americans well over an estimated $100 billion.
With no indication that fuel costs will return to pre-war levels anytime soon, some drivers are forced to cut back on spending.
“I’ve been more open-minded to saving money, like getting rewards at these gas stations,” said Francisco Molina.
Ezpinoza says he’s trying to limit himself when he go to stores, as well as packing lunch for work.