why is there a diesel shortage

Shortages are now being reported in the Northeast due to the financial risks associated with getting oil from Houston to New York City via the pipeline, a process that can take 18 days. Thats far worse than the situation in 2008. The COVID-19 pandemic can be blamed for many things, and it has also been a contributing factor in our current fuel prices. The supply situation got worse after Russia invaded Ukraine and the West responded with sanctions, including those targeting the countrys energy exports. As mentioned above, distillate demand spikes at this time of year. Exclusive news, data and analytics for financial market professionals, Diesels gloomy message for the global economy, Recession will be necessary to rebalance the oil market, Oil prices rise after U.S. debt deal, all eyes on OPEC meeting, Southern China swelters, power grids struggle under 'relentless' heatwaves, OPEC+ unlikely to deepen oil supply cuts at June 4 meeting, sources say, Exxon CEO says technology advances could double its shale output, Renault customers to lodge criminal complaint in France over faulty engines, US bans new oil and gas leasing around New Mexico cultural site, Electric truck maker Nikola may do reverse stock split to comply with Nasdaq rules, Pfizer says its experimental antibiotic combo can treat some superbug infections, Stellantis to invest 160 million euros to launch all-electric SUV in 2025. Please, Saudi Arabia To Expand Its Lithium Processing Industry, South Africa Could Ease Blackouts By Burning Heavy Fuel Oil, Europes 11th Russian Sanctions Package Could Be Coming Soon, Chinese Government Encourages Tesla To Expand Business In Shanghai, Petrobras Set To Raise Investments In Low-Carbon Energy Projects, Qatar Signs Long-Term LNG Supply Deal With Bangladesh, Petrobras Looks To Grow Oil Production Outside Brazil, OPEC+ Unlikely To Announce Additional Oil Output Cuts, Exxon And Chevron Shareholders Dismiss Climate Resolutions, Colombia Accuses U.S. Coal Miner Of Funding Paramilitary Group, Oil Markets Shocked By Across the Board Inventory Builds, American Offshore Wind Gets Gulf Of Mexico Green Light, Reuters Survey: OPEC Output Down 460,00 BPD This Month, Consortium To Invest $9 Billion In Indonesia's Mining And Battery Industries, Gas Leak Forces Equinor To Shut Major LNG Export Terminal. Influence, Anheuser-Busch Stock Drops 20% as Bud Light Sales Struggle, Donald Trump Audio Tape is 'Game, Set and Match' for Prosecution: Attorney, Republican Says It Doesn't Matter If Joe Biden Accusations Are 'Accurate'. Currently, they are low going into fall. And and then, of course, we were all moving quickly, VIX vehicle future that In November 2021, the Biden administration announced a historic 180 million barrel crude oil release from the strategic oil reserves, and in October 2022, Biden announced he would continue drawing from the Strategic Petroleum Reserve. There are early indications manufacturing and freight activity peaked in the third quarter of 2022. For East Coast fleets, thennow is the critical time to make sure your supplier has a plan for the winter to keep your equipment running. That's because right now, the U.S. is experiencing one of the biggest shortages of diesel since 2008. Rebalancing diesel supply will likely require a further rise in interest rates and tighter financial conditions in the United States and other major economies to reduce fuel consumption to more sustainable levels. High diesel prices lead to an increase in logistics and production costs for businesses. Trading and investing carries a high risk of losing money rapidly due to leverage. So that's not helped either. Diesel Fuel Shortages Are Worsening Inflation in the U.S. var write_html = `