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.
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