Surging Demand Leaves US with Less Than a Month’s Supply of Diesel

(by Arsenio Toledo | Natural News) – The United States has less than a month’s supply of diesel fuel remaining, with some estimates suggesting the country only has 25 days or less of diesel – the lowest America’s diesel supply has been since 2008.

This is according to data taken from the Energy Information Administration, the federal government’s main body for collecting information regarding American energy.

The latest diesel crunch comes just as retail prices for diesel have been steadily climbing for more than two weeks after decreasing and remaining relatively stable in the last few months. The current national average price of a gallon of diesel is $5.309, according to AAA. This was nearly 50 percent higher than its price last year, which was $3.617 per gallon.

In New England, where more people burn fuel for heating than anywhere else in the country, diesel stockpiles are currently less than a third of typical levels for this time of year.

Diesel stockpiles going low is not uncommon for this season as refiners dial down production for maintenance. But the maintenance season, coupled with the disappearance of Russian oil products following Western sanctions imposed upon it for its special military operation in Ukraine, have combined to tighten global supplies and limit imports from other oil-producing nations. Read Full Article >