The United States has just 25 days of diesel supply and the shortage could impact how Americans vote at the upcoming midterm elections.
The Energy Information Administration has revealed that the U.S. supply of diesel is at its lowest level since 2008 and that the four-week rolling average in demand for diesel has risen to its highest seasonal level since 2007. AAA data has also revealed that diesel prices are 50 per cent higher than this time last year at $5.324 a gallon.
Stockpiles have been drained due to Russia’s ongoing war in Ukraine which has tightened global supplies and limited imports. Additionally, refiners have entered maintenance season, Bloomberg reports.
Read: Gas Prices At The Pump Might Continue To Drop In The Near Future
While recently speaking on the issue, national economic council director Brian Deese said that diesel inventories are “unacceptably low,” adding that “all options are on the table” to increase supplies and reduce prices.
Residents in New England are really feeling the pinch. They burn more diesel for heat than anyone else in the country but state stockpiles of diesel are a third of what they normally are at this time.
There could be some relief on the way. Two ships carrying approximately 1 million barrels of diesel will soon arrive in New York after being diverted from their original destinations in Europe. Additionally, regional diesel production will receive a boost when Delta Air Line’s Trainer refinery in Pennsylvania returns from seasonal maintenance.
Consumers currently view inflation and the economy as a top voting issue and the diesel shortage is only set to grow concerns.