High Gasoline And Diesel Prices Are Here To Stay

U.S. gasoline and diesel prices are soaring to record highs nearly every day these days, as crude oil prices hold above $110 a barrel, the Russian invasion of Ukraine upends global crude and refined product trade flows, and refinery capacity globally is now lower than before the pandemic after some refineries—including in the United States—closed permanently after COVID crippled fuel demand in early 2020.

There isn't a quick fix for all-time high fuel prices in America— or elsewhere — analysts say. The quickest fix is actually…