Varney: This inflation indicator is flashing a ‘danger signal’
Diesel prices spike amid record-high inflation
Stuart Varney: This inflation indicator is flashing a ‘danger signal’
FOX Business host Stuart Varney argues diesel is 'a baseline cost for any enterprise.'
In his latest "My Take," "Varney & Co." host Stuart Varney sounds the alarm on the cost of diesel amid record-high gas prices, arguing it’s an "indicator that’s flashing a danger signal."
STUART VARNEY: One of the most important inflation indicators is the cost of a tankful of diesel.
It's an indicator that’s flashing a danger signal.
The national average is now at a record high: $5.32 a gallon. Up roughly 40% from a year ago.
That’s serious inflation. And it points to even worse inflation this summer.
Diesel is used by farmers, truckers, construction workers. It’s a baseline cost for any enterprise. It’s a cost that is passed along. You may not buy diesel yourself, but you'll pay for it.
PRICE OF DIESEL HITS ALL-TIME HIGH, STRAINING THE TRUCKING INDUSTRY
The Biden team is thrashing around. They released oil from the strategic reserve. They've promised more federal land for drilling. And, as usual, they've tried to pin the blame on oil companies or gas stations or Putin. They're desperate.
FOX Business host Stuart Varney discusses the rising price of diesel under the Biden administration during his "My Take" on May 2, 2022. (Fox News)
The president is way underwater on the issue of inflation.
An ABC/Washington Post poll shows 94% "concerned or upset" by inflation. Imagine how bad it will be if diesel brings us double-digit inflation this summer!
GOP LAWMAKER PREDICTS ECONOMIC RECESSION AS BIDEN SAYS HE’S NOT CONCERNED
Don't be surprised if Bernie Sanders demands price controls!
How many of the beltway crowd have ever filled up a tractor or a backhoe with $5 diesel! The elites wouldn't be caught dead at a truck stop. Out-of-touch.
Prediction: $6 diesel, 10% inflation and 6% mortgages by July 4th. Not good.