More diesel news; when it rains............
More diesels bound for US market. This sucks. Diesel is about 10 cents higher then regular around here. :) If every soccer mom in the US gets a diesel it will drive #2 up, up, up and out of sight. ...
Forum Discussion
US refiners make more then enough diesel to go around, the issue is they are profiting more by exporting it.
Export reports
So they are exporting 20k barrels of diesel a day, with 1 barrel of diesel equal to 42 gallons or 159L. That means the US is currently exporting at least 840k gallons a day of diesel as of June. Lower in the winter months otherwise I think they corperations would get hung out to dry by even congress if they artifically bumped local costs through exports during heating months.
Reports in the past month say that is even higher. So since the US will bear 3.70 a gallon (due to no other choice) exports are up to profit on the output that would push prices lower.
ABC news link on exponential fuel export growth.
Export reports
So they are exporting 20k barrels of diesel a day, with 1 barrel of diesel equal to 42 gallons or 159L. That means the US is currently exporting at least 840k gallons a day of diesel as of June. Lower in the winter months otherwise I think they corperations would get hung out to dry by even congress if they artifically bumped local costs through exports during heating months.
Reports in the past month say that is even higher. So since the US will bear 3.70 a gallon (due to no other choice) exports are up to profit on the output that would push prices lower.
ABC news link on exponential fuel export growth.
