Diesel prices in the US have surged to an average of $5.85 per gallon, a nearly 60% increase from $3.71 last year, with California prices reaching $7.70 per gallon. This spike is driven by refinery shutdowns caused by conflicts in Ukraine and the Middle East, including Russia's diesel export ban and attacks on regional energy infrastructure. Diesel is crucial to the economy, affecting transportation, agriculture, and industry, so higher prices are fueling inflation concerns. The ongoing supply disruptions could keep diesel prices elevated, impacting costs for goods and services delivered by truck and rail.
Brent crude oil prices surged 4% to $113.17 a barrel, marking a five-month high, while the US government announced a $150 million fund under the Defense Production Act to expand refining capacity and lower fuel prices. This move comes as refiners lik...
Refining margins surged dramatically, with Valero Energy's margin rising to $39.24 per barrel from $13.14 a year earlier, fueling strong dividends and buybacks at Valero, Marathon Petroleum, and Phillips 66. Valero leads in dividend safety with a str...
