Vestal_Flame said:
My interest in the diesel price has been driven by the fact that diesel exhibits less elasticity of demand relative to price. If the gasoline price rises, I can cancel my driving vacation to Yellowstone. The truck driver who delivers my strawberries is not going to cancel the delivery of my strawberries. He is going to charge more for my strawberries.
Spot on. If they don't get this one fixed quickly, it will affect the price of virtually every product on the market and have a significant negative impact to the economy. Businesses small and large will not be able or willing to absorb this higher cost for long.
"Well, doctor, what have we got, a republic or a monarchy?" "A republic, if you can keep it" - Benjamin Franklin