U.S. distillate fuel oil stocks, the main component of diesel, fell to 103.4
million barrels in the week to Aug. 21, down 2.2 million barrels week-on-week
and about 14% below the five-year seasonal average, the EIA said. Bloomberg,
using data back to the early 1980s, said this is the lowest level for this time
of year on record. Rising agricultural fuel use and early winter heating demand
raise the risk of further diesel price gains. AAA data showed the national
diesel retail average at $5.62/gal on Aug. 26, up from $3.70 a year earlier and
close to the $5.82/gal record set in June 2022.
