Trending Now - Rising Diesel Prices Challenge Businesses Amid Cost Constraints
WHO:
Mike Roach, co-owner of Paloma Clothing
Kim Osgood, co-owner of Paloma Clothing
Nels Leader, CEO of Bread Alone Bakery
Shirley Modlin, owner of 3D Design and Manufacturing
Kareem Miller, owner of Strong Pact Trucking
Tai Milder, director of the California Energy Commission Division of Petroleum Market Oversight
Jamie Court, president of the nonprofit ratepayer advocacy group Consumer Watchdog
Ross Allen, spokesperson for Chevron
Bob Costello, chief economist at American Trucking Associations
WHAT:
A Chevron station in Essex is charging $9.69 per gallon as of March 17th, 2026.
A gas station in Los Angeles’ Chinatown is charging $8.71 per gallon as of March 17th, 2026.
A gas station in Vidal Junction is charging $7.79 per gallon as of March 17th, 2026.
Diesel prices in the U.S. surpassed $5 per gallon for the second time in history during the week of March 21st, 2026.
Diesel is the trucking industry’s second-largest expense, accounting for about 20% of operating costs, according to Bob Costello.
Roach expects to incur higher fuel surcharges soon due to rising transportation costs.
Modlin reported that tungsten prices have more than doubled in the past two weeks.
California's average price of gas is currently $5.66.
A Chevron station in Essex is charging $9.69 per gallon.
A gas station in Los Angeles’ Chinatown is charging $8.71 per gallon.
A gas station in Vidal Junction is charging $7.79 per gallon.
Gas prices have increased by approximately 30% nationally since the U.S. and Israel attacked Iran three weeks ago.
Diesel prices in the U.S. have surpassed $5 per gallon for only the second time in history.
Refineries made 49 cents per gallon in January and their margins are now closer to $1.25 per gallon.
WHERE:
Portland, Oregon (location of Paloma Clothing)
Powhatan, Virginia (location of 3D Design and Manufacturing)
California
Essex, California
Los Angeles’ Chinatown, California
Vidal Junction, California
Northern California
San Bernardino County, California
WHEN:
The U.S. and Israel attacked Iran three weeks prior to March 21st, 2026.
The California petroleum oversight agency was created in 2023.
The price spikes in California occurred in 2024 and 2025.
WHY:
Roach stated, “Customers have to have a certain level of confidence about the future to walk in our door and tempt themselves and buy an item.”
Modlin mentioned, “The customers don’t understand; they want this product. They say: ‘If you can’t give it to us, we’ll find someone else.’”
The increase in gas prices is attributed to the Iran war, which has blocked 20% of the global oil supply.
California consistently has the highest fuel prices in the country due to state taxes, fees, and environmental programs.
The gap between national and California prices has widened since the start of the war, indicating potential price gouging.
HOW:
Roach plans to absorb rising transportation costs from his profit margin rather than raising prices.
The California Energy Commission is monitoring retail, wholesale, and spot markets for unfair practices or market manipulation.
Consumers are encouraged to shop around and compare prices between name-brand and unbranded gasoline.
(UPDATED March 21, 2026 09:02 UTC)
In a significant development for consumers, a Chevron station in Essex is charging an eye-popping $9.69 per gallon for gas, while prices in Los Angeles’ Chinatown and Vidal Junction are at $8.71 and $7.79 respectively as of last Monday. Diesel prices have also surpassed $5 per gallon for the second time in history this week, prompting business owners like Mike Roach of Paloma Clothing to brace for higher fuel surcharges, although he plans to absorb these costs rather than raise prices. Meanwhile, Shirley Modlin of 3D Design and Manufacturing has reported that tungsten prices have more than doubled in just two weeks, highlighting the challenges businesses face in maintaining customer confidence amid rising costs.
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(UPDATED March 21, 2026 05:19 UTC)
California's average gas price has surged to $5.66, with some stations charging as much as $9.69 per gallon in Essex and $8.71 in Los Angeles’ Chinatown. This spike in prices follows the recent U.S. and Israel attacks on Iran, which have disrupted about 20% of the global oil supply and led to a 30% increase in gas prices nationwide over the past three weeks. The California Energy Commission is actively monitoring the situation for any signs of unfair practices, while consumers are advised to compare prices between different gas stations to find the best deals.