Diesel Prices Soar to Record High Amid Global Tensions, Inflation Fears
Diesel prices have reached a record high of over $6 per gallon in the US, a historic first. Former Rep. Marjorie Taylor Greene expressed disbelief on social media platform X, noting that this surge is attributed to ongoing conflicts in Iran and between Russia and Ukraine.
The price of diesel powers most of the country's transportation and machinery, impacting the cost of groceries and other goods. Greene said that this is 'unreal'.
Economist Peter Schiff criticized President Donald Trump's promise of a $5,000 payout to adult voters, warning it could cause a significant inflation spike. Schiff referred to the proposed payout as a 'bribe', requiring domestic spending and forcing the Federal Reserve to print money.
Schiff warned that this would result in 'massive inflation', even exceeding anything seen under former President Joe Biden.