Updated:  Soaring diesel prices squeeze truckers, farmers as costs hit consumers

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Paul Russo can't afford to absorb the rising cost of diesel. The president of Wayne, Michigan-based Wayne Industries, a steel hauler, has levied a fuel surcharge for about a decade. But as diesel fuel prices have climbed, the percentage he adds to his trucking rates has climbed with them. Russo now is charging a 45% fuel surcharge on his trucking rates to help offset the cost of diesel, which recently surpassed $6 a gallon.