DIESEL fuel demand is surging in the US while supplies remain at the lowest seasonal level ever, reports Bloomberg.
The shortage of the fuel used for heating and trucking is a critical worry for the Biden administration heading into winter.
National Economic Council director Brian Deese declared that diesel inventories are 'unacceptably low' and 'all options are on the table' to build supplies and reduce retail prices.
The US has 25 days of diesel supply, the lowest since 2008. Meanwhile, the four-week rolling average of distillates supplied rose to its highest seasonal level since 2007.
While weekly demand dipped, it's still at the highest in two years amid higher trucking, farming and heating use.
The issue comes weeks ahead of the midterm elections and can potentially drive up prices for consumers who view inflation and the economy as top voting issues.
Meanwhile, retail prices have been steadily climbing, and at US$5.324 a gallon, they're 50 per cent higher than last year.
Some relief is on the way as two vessels carrying one million barrels of diesel will arrive in New York after being diverted from their original European destinations.
SeaNews Turkey
The shortage of the fuel used for heating and trucking is a critical worry for the Biden administration heading into winter.
National Economic Council director Brian Deese declared that diesel inventories are 'unacceptably low' and 'all options are on the table' to build supplies and reduce retail prices.
The US has 25 days of diesel supply, the lowest since 2008. Meanwhile, the four-week rolling average of distillates supplied rose to its highest seasonal level since 2007.
While weekly demand dipped, it's still at the highest in two years amid higher trucking, farming and heating use.
The issue comes weeks ahead of the midterm elections and can potentially drive up prices for consumers who view inflation and the economy as top voting issues.
Meanwhile, retail prices have been steadily climbing, and at US$5.324 a gallon, they're 50 per cent higher than last year.
Some relief is on the way as two vessels carrying one million barrels of diesel will arrive in New York after being diverted from their original European destinations.
SeaNews Turkey
