Diesel reserves have officially reached their lowest levels since 2008
⛽️ Diesel reserves have officially reached their lowest levels since 2008.
The Biden Administration is working to boost supplies after reports stated that reserves would run out in less than thirty days if they were not replenished. National Economic Council Director Brian Deese admitted that the reserve levels are dangerously low and that they are reviewing a variety of options to address the issue. Meanwhile, the East Coast braces for incoming diesel shortages if changes are not made in short order.
in a recent development, BlackRock, the world's largest asset manager, is challenging Texas' move to pull out about $8.5 billion from the Texas Permanent School Fund (PSF), alleging it's a boycott against energy companies.
Energy giant Shell is shifting gears, planning to sell off some of its gas stations to make room for more electric vehicle charging stations.
Recent sub-zero temperatures across the United States have caused gas wells to freeze, resulting in an 11-month low in gas production, according to Reuters.
In a move that challenges California's emissions regulations, Ohio is set to enact a law in March that prohibits state agencies from adopting California's vehicle emissions standards.
Gas prices in the United States are dropping, with the national average at $3.137 per gallon, down 9 cents from the previous week and the lowest of the year.
Connecticut's plan to ban the sale of gas-powered cars by 2035 is facing a setback, with Governor Ned Lamont shifting his focus to promoting electric vehicles instead of a scheduled legislative vote on the ban.
The National Oceanic and Atmospheric Administration (NOAA) has released historical maps showing how El Niño influences snowfall in the United States.
Chevron and Exxon are making significant acquisitions in the oil and gas industry despite growing global momentum toward clean energy.
Chevron has agreed to purchase U.S. oil and gas producer Hess in an all-stock deal valued at $53 billion.
The Biden administration has eased sanctions on Venezuela, specifically in the oil, gas, and gold sectors, following an agreement between the government of President Nicolás Maduro and the U.S.-backed opposition to hold competitive presidential elections next year.
The South Carolina Ports Authority reported a 9% year-on-year decline in cargo volumes for August, totaling 203,169 TEUs.
Gasoline prices in California have surged to an average of $6.08 per gallon, up 15% from a month ago, largely due to a spike in crude oil costs and refinery output disruptions.
A tropical storm warning has been issued for parts of the East Coast, including North Carolina to Delaware, due to the approach of "Potential Tropical Cyclone Sixteen."
U.K. Prime Minister Rishi Sunak has announced a delay in several key emissions-reduction targets, including pushing back the ban on the sale of new gasoline and diesel cars from 2030 to 2035.
The California Air Resources Board (CARB) has issued a mandate that tugboat operators must upgrade their engines with unapproved Diesel Particulate Filters (DPFs) within six months.
Gas prices in the United States are expected to rise slightly over the next week, with estimates suggesting an increase of three to five cents per gallon due to rising gasoline wholesale prices.
The diesel market is facing a crisis as output curbs from countries like Saudi Arabia and Russia limit the supply of medium and heavy crudes, crucial for diesel production.
Despite earlier predictions of an economic recession and declining oil demand, the U.S. economy has remained resilient, leading to stable demand for gasoline and jet fuel.
This summer's historic heatwave is causing gasoline prices to surge to nine-month highs in the United States.
Average U.S. diesel prices have increased to $3.905 per gallon from $3.806 per gallon as of July 24, with all regions experiencing price hikes.
Despite an eight-month downturn in manufacturing and freight activity, US inventories of diesel and other distillate fuel oils have failed to recover significantly.
The Diesel Technology Forum (DTF), a trade group representing suppliers in the diesel engine supply chain, is positioning diesel engines as a leading force in achieving a cleaner future for the trucking industry.
The national average price of diesel fuel in the United States remained unchanged at $3.806 per gallon for the week of July 17, according to the U.S. Energy Information Administration (EIA).
The Energy Information Administration's Short-Term Energy Outlook Report highlights several predictions, including an increase in crude oil prices heading into 2024, while diesel fuel prices are expected to remain below $4 per gallon for most of that year.
Major truck manufacturers have made a commitment to cease the sale of new gas-powered vehicles in California by the mid-2030s.
Sheetz, a convenience store chain, has attracted long lines of vehicles at select Pennsylvania locations as customers take advantage of their Fourth of July promotion, offering gas prices at $1.776 per gallon.
For the 20th time in 22 weeks, the benchmark price of diesel, commonly used for fuel surcharges, has decreased.
As Americans gear up for the Fourth of July weekend, they can celebrate significantly lower gas prices compared to last year.
As the average price of diesel fuel shows a downward trend, several states in the US are preparing to make changes to their diesel fuel taxes, effective from July 1st.
Several states in the U.S., including California, Maryland, Massachusetts, New Jersey, New York, Oregon, Washington, and Rhode Island, plan to ban the sale of new gas-powered cars by 2035.