Diesel prices have jumped to the highest level ever recorded in the US, which is bad news for truckers, farmers, and anyone who buys goods that move by road.

• Diesel is up about 24% in a week, 56% in two weeks, and 74% over the past year.
• Every region is now above $6 a gallon, with California and the West Coast the most expensive.
• The cushion is thin: diesel stockpiles sit well below the normal level for this time of year.
• The emergency oil reserve cannot plug the gap quickly, since it holds crude that still has to be refined and shipped.
• Higher diesel costs feed straight into shipping and food prices, so consumers will feel it next.

Outlook: With supplies tight and no fast fix available, diesel is likely to stay expensive and push up the cost of almost everything that gets trucked.