Diesel Is The Real Problem -- Diesel Moves America -- October 15, 2022

Diesel costs will impact every product sold in America. 

Ninety-nine percent of Americans do not worry about the price of diesel because they don't buy it (needs to be fact-checked). 

Did anyone notice that US refiners are now operating below 90% of their capacity? Link here.

• U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending October 7, 2022 
• 279,000 barrels per day less than the previous week’s average
• refineries operated at 89.9% of their operable capacity last week. 
• gasoline production decreased last week, averaging 9.2 million barrels per day;
• distillate fuel production decreased last week, averaging 4.9 million barrels per day

Diesel: the real concern has moved from gasoline to diesel

• if one wants to see why diesel fuel is now the real concern, not gasoline, drive I-40 from Memphis to Nashville
• from this week's EIA weekly petroleum report
• distillate fuel inventories decreased by a whopping 4.9 million barrels last week and are about 23% below the five year average for this time of year.
• propane is in good shape:
• propane/propylene inventories increased by 1.1 million barrels from last week and are 1% above the five year average for this time of year.

The "numbers" this week were absolutely stunning.