Submitted by Hardscrabble Farmer
“Historically, the spread moved up and down over zero enough that it’s accurate to say there’s little difference between the two. The recent spread is an anomaly…”
Um, ‘kay.
By John Kingston
Diesel consumers on the East Coast received some news Wednesday that may suggest an easing of the tight physical market squeeze in the region.
Major trucking fleets across the eastern half of the US are preparing for an “imminent” diesel shortage, according to logistics firm FreightWaves.
Founder and CEO of FreightWaves Craig Fuller said “3 very large fleets” are preparing for diesel pumps at fuel stations to run dry. Drivers of these fleets received notifications about fuel shortages that could materialize in the coming weeks across the Mid-Atlantic and Northeast regions.
Fuller tweeted several messages that drivers received from fleet operators. The notifications were alarming.
— Craig Fuller 🛩🚛🇺🇦 (@FreightAlley) May 11, 2022
Continue reading “Major Trucking Firms Prepare For “Imminent Diesel Shortage In Eastern Half Of US””
Gasoline prices are increasing almost daily, pinching the wallets and pocketbooks of nearly all Americans with cars. However, as bad as that news is, diesel prices are surging even more across the country. Today’s truckstop retail diesel prices hit a new record of $5.32/gallon. Since February 1st, national truckstop diesel prices have increased by $1.57/gallon. For an owner-operator whose truck gets 6.5 miles per gallon, this equates to a cost increase of $0.24 per mile.
To many Americans (including politicians), diesel prices are so removed from their version of reality that they often dismiss the importance of diesel to the U.S. and global economies. However, diesel is the fuel that drives the economy and leaves major industries vulnerable to cost shocks.
Without diesel fuel, the U.S. economy would collapse in a matter of days. Our supply chains would completely shrivel, almost overnight.
Continue reading “Why every American should care that diesel prices are surging across the country”
I passed a Wawa gas station on the way to work today and diesel was $6.29 per gallon. I paid $4.49 per gallon yesterday to fill up my car. Thanks Joe.
Baltimore native Mike Rowe became famous as the Dirty Jobs jobs guy on the Discovery Channel. Now he’s filming the second season of “How America Works” on Fox Bussiness, showcasing the many individuals that work around the clock to keep the US economy humming.
During Monday’s “Fox and Friends” show, Rowe sat down with Steve Doocy to discuss out-of-control inflation. He said the tuckers he knows aren’t buying the “Putin Price Hike” narrative.
As the national average for diesel prices at the pump jump to a record high of $5.32 a gallon, Rowe said truckers are sending him pictures and videos of them filling up, spending more than a thousand dollars at a time.
“I get video almost every day now from people who we featured on ‘Dirty Jobs” and ‘How America Works.’
“They’re just sending me videos of them at the gas pump and some of them are filling up 18-wheelers. And, I’m not kidding you, $1,100, $1,200.
“Most people, all we can think about is the price for us at a relative terms know it’s awful.
“When you put $1,200 in your gas tank and just six months ago it was costing you $600 or 700, the exponential reality of it is starting to sink in. You just can’t walk that back. It touches every single thing that matters in this country. From food production to transportation … all of it,” Rowe explained.
Doocy then asked: “Are truckers buying the ‘Putin Price Hike’?”