The shortage could disrupt supply chains
National Economic Council Director Brian Deese described the 25 days of diesel supply as “unacceptably low.“ The advisor to President Biden stated that “all options are on the table” to increase supplies.
Data provided by the Energy Information Administration (EIA) show that diesel stockpiles are at their lowest level for October in records that date back to 1993, according to a Bloomberg News analysis. EIA data reveals that the United States, as of October 14, had 25.4 days of supply—down from the estimated 34.2 days of supply four weeks prior.
Demand is also said to be at its highest point since 2007, creating an imbalance in supply and demand in addition to increases in pricing.
Diesel is the fuel used by freight trains and commonly used by long-haul truckers to transport goods and food.
“Most of the products we use are transported by trucks and trains with diesel engines, and most construction, farming, and military vehicles and equipment also have diesel engines,” the EIA officials stated. “As a transportation fuel, diesel fuel offers a wide range of performance, efficiency, and safety features. Diesel fuel also has a greater energy density than other liquid fuels, so it provides more useful energy per unit of volume.”
Prices, meanwhile, remain relatively elevated, according to AAA data. The average price for a gallon of diesel stands at around $5.33 nationwide, up nearly $2 since the same time in 2021.
As the Lord Leads, Pray with Us…
- For Administrator Joseph DeCarolis as he heads the Energy Information Administration.
- That Director Deese would seek God’s wisdom as he leads the National Economic Council.
- For the president and his energy officials to respond to the energy needs with discernment.
Sources: Washington Post, The Epoch Times, Bloomberg
