Bitcoin faces a new inflation test after diesel hits a nominal $6.53 record
Summary
US on-highway diesel reached a nominal record $6.529 per gallon on Sept. 21, up 24.4 cents in a week, while distillate inventories fell. The EIA attributes the rise to tight global distillate supply and elevated crude prices. Higher diesel costs could raise freight expenses and add to inflation if sustained and passed through, potentially shaping expectations for how long the Fed keeps rates elevated—a factor that may weigh on Bitcoin. August producer data showed diesel prices up 24.1% and truck freight prices up 2.0%, but the effect on consumer prices and Bitcoin remains uncertain. Upcoming September inflation reports will provide a clearer test.
