Diesel has hit a record high and is pushing up the price of nearly everything, which is bad for truckers, small businesses, and anyone buying food or goods.

• Truckers are paying almost $6 a gallon nationwide, up 60% from last year, and over $7.50 in California.
• Wars in Ukraine and Iran have knocked out refineries, so diesel is scarce even though oil itself is far below its 2008 record.
• Diesel is built into the cost of everything that moves by truck, so higher prices feed straight into inflation.
• Hotels, restaurants, and casinos look healthy on paper because they charge more, but fewer people are actually showing up.
• The same setup appeared in 2008: fuel spiked, truckers parked their rigs, spending stopped, and oil then collapsed along with stocks.

Outlook: If the pattern repeats, high fuel costs squeeze consumers until spending cracks, and oil prices fall hard from there.