IARN — America has a shortage of diesel supplies on hand and it’s putting pressure on suppliers to get more into the fuel supply. Reports say a shortage is spreading in the eastern United States and has prompted at least one supplier to initiate emergency protocols. Mansfield Energy is a fuel supplier that says conditions are rapidly devolving, so they require a 72-hour notice for deliveries to secure fuel and freight.
Diesel is the fuel that trucks, trains, and ships fill their tanks with to move goods around the country and across the globe. Supplies are tight partly because Russian diesel imports are banned in the U.S.
Andrew Hunter, a senior economist with Capital Economics, says, “U.S. refining capacity has fallen over the past few years, which doesn’t help.” Diesel prices hit a record high of $5.81 per gallon in June, and prices could go higher if the winter is colder than expected.
Story courtesy of the Iowa Agribusiness Radio Network.
High Gas Prices (IARN Stock Photo)
