Diesel prices have hit record highs and some gas stations are running dry, which is bad news for truckers, farmers, and anyone already struggling with living costs.

• Diesel is at an all-time high nationally, up more than 70% from a year ago, with California above $8 a gallon.
• Some trucking companies are parking their trucks because they can no longer make money at these prices.
• Refineries are struggling to make enough diesel, and China is back buying refined fuel after months of holding off during the Iran war.
• Consumer confidence dropped sharply, with both Republicans and Democrats now expecting higher inflation.
• Diesel powers trucks and trains, so higher costs will spread to nearly everything people buy.

Outlook: Prices are expected to keep climbing, with $7 diesel possible by the November midterms and the Fed watching inflation closely.