U.S. diesel hits a new record as cost pressures broaden
⛽ The U.S. national average diesel price has climbed to $5.85 per gallon, according to AAA, surpassing the 2022 peak and rising more than 55% from around $3.76 before the Iran war.
🛢️ Diesel has risen much faster than crude oil, suggesting the pressure is not only coming from Brent but also from a tighter refined-products market. Restricted flows through Hormuz, reduced Russian diesel supply and strained refining capacity are keeping distillate margins elevated.
📉 U.S. distillate inventories stand at about 104.2 million barrels, 14% below the five-year average. Thin stockpiles heading into the harvest season and later the heating season reduce the likelihood of a rapid price decline.
📦 Diesel is a key input for transport, agriculture and construction, so higher prices can feed into logistics, food and broader goods costs. With U.S. payroll growth also beating expectations, the latest energy pressure adds another reason for markets to remain cautious on the pace of Fed easing.
#Energy $CL
⛽ The U.S. national average diesel price has climbed to $5.85 per gallon, according to AAA, surpassing the 2022 peak and rising more than 55% from around $3.76 before the Iran war.
🛢️ Diesel has risen much faster than crude oil, suggesting the pressure is not only coming from Brent but also from a tighter refined-products market. Restricted flows through Hormuz, reduced Russian diesel supply and strained refining capacity are keeping distillate margins elevated.
📉 U.S. distillate inventories stand at about 104.2 million barrels, 14% below the five-year average. Thin stockpiles heading into the harvest season and later the heating season reduce the likelihood of a rapid price decline.
📦 Diesel is a key input for transport, agriculture and construction, so higher prices can feed into logistics, food and broader goods costs. With U.S. payroll growth also beating expectations, the latest energy pressure adds another reason for markets to remain cautious on the pace of Fed easing.
#Energy $CL
