“At the moment refining capacity cannot meet demand, even when we have enough oil,” Institute For Energy Research Senior Vice President Dan Kish told the DCNF.
Diesel prices for November delivery already surged 38%. The U.S. is grappling with the one of the worst diesel shortages in decades, with reserves of the fuel used for heating and trucking at the lowest seasonal level ever.
Data provided by the Energy Information Administration (EIA) show that diesel stockpiles are at their lowest level for October in records that date back to 1993, according to a Bloomberg News analysis. EIA data show that the United States, as of Oct. 14, has 25.4 days of supply—down from 34.2 days of supply four weeks prior.
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