Diesel Prices Hit Record High as Supply Shrinks
Listen to the story
Diesel prices have gone up a lot. The margin on diesel is now over $100 for one barrel. This is a new record.
A margin is the extra money a company makes. It is the difference between the cost and the price. Right now, this money is very high for diesel.
There is less diesel to buy. This is called a supply crunch. It means not enough fuel is ready for everyone who needs it.
Many companies need diesel. Trucks, ships, and factories use it. When supply is low, buyers must pay more money.
This problem is hurting the US economy. The economy is how money and business work in a country. High diesel prices make many things cost more.
People who drive trucks feel this problem first. Their fuel costs go up fast. Companies that sell things by truck must also pay more.
Experts are watching diesel supply closely. They want to know if prices will go even higher. For now, diesel costs a record amount.
Vocabulary15 words
- margin
- the extra money made after paying costs
- barrel
- a unit used to measure oil, about 159 liters
- supply crunch
- when there is not enough of something to sell
- economy
- how money and business work in a country
- record high
- the highest number ever seen
- diesel
- a type of fuel used in trucks and machines
- fuel
- something burned to make power or energy
- cost
- the money you pay for something
- price
- the amount of money asked for something
- buyer
- a person or company that buys something
- shrinking
- getting smaller
- compete
- to try hard to get something before others
- truck
- a large vehicle used to carry goods
- factory
- a building where things are made
- expert
- a person who knows a lot about a topic
Quiz
Answer key
1. They have gone above $100 a barrel 2. There is a supply crunch 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Diesel prices have gone up a lot. The _____ on diesel is now over $100 for one _____. This is a new record.
A margin is the extra money a company makes. It is the _____ between the cost and the price.
There is less diesel to buy. This is called a supply _____. It means not enough fuel is ready for everyone who needs it.
Many companies need diesel. Trucks, ships, and _____ use it. When supply is low, buyers must pay more money.
This problem is hurting the US _____. High diesel prices make many things cost more.
People who drive trucks feel this problem first. Their fuel _____ go up fast.
Experts are watching diesel _____ closely. For now, diesel costs a record _____.
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