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Major Trucking Firms Prepare For "Imminent Diesel Shortage In Eastern Half Of US"

Tyler Durden's Photo
by Tyler Durden
Wednesday, May 11, 2022 - 07:07 PM

Major trucking fleets across the eastern half of the US are preparing for an "imminent" diesel shortage, according to logistics firm FreightWaves

Founder and CEO of FreightWaves Craig Fuller said "3 very large fleets" are preparing for diesel pumps at fuel stations to run dry. Drivers of these fleets received notifications about fuel shortages that could materialize in the coming weeks across the Mid-Atlantic and Northeast regions.

Fuller tweeted several messages that drivers received from fleet operators. The notifications were alarming. 

He also tweeted what appears to be an unnamed industry insider explaining the historic mess hitting Mid-Atlantic and Northeast markets is a combination of crude being diverted from the US to Europe and supply chains issues along the East Coast. 

Diesel supply is short worldwide due to the invasion of Ukraine disrupting energy markets and resulting Western sanctions. The writing has been on the wall for months about developing shortages, as we discussed in:

On Wednesday, DOE showed US diesel inventories are now 23% below the five-year average for this time of year, at their lowest since May 2005.

The situation isn't improving as diesel prices at the pump soar to new highs. 

Retail gas prices are also legging higher. 

And who does President Biden blame this time for possible fuel shortages? Can't keep blaming Putin for every problem. 

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