(Republican Insider) – As if things couldn’t get any worse. Not only is the price of gasoline now the highest it’s ever been in US history but so is the price for diesel which doesn’t just affect truck drivers. Americans are being slammed every time they fill up their tank and with the rising cost of goods as truckers’ costs continue to explode.
The price of diesel, however, isn’t even the worst part, if you can believe it. Now analysts are sounding the alarm over the very real possibility that the supply could soon dry up.
Diesel is the life blood of our economy. It fuels the trucks that deliver our goods and necessities along with all other work trucks like utility trucks, delivery trucks, and construction trucks and many more.
The average per gallon cost of diesel in the US is now over $5 according to AAA. That’s a staggering 61% increase from $3.10 from just last year.
Companies have to find a way to reconcile these prices and the only practical way is through price hikes for consumers.
The bigger problem, however, is the supply.
According to a Bloomberg article by Javier Blas, diesel is an even bigger problem than gas and one no one is talking about. Blas says, “skyrocketing diesel prices should be the main worry of central banks.”
“The dire diesel supply situation predates the Russian invasion of Ukraine,” Blas added. “While global oil demand hasn’t yet reached its pre-pandemic level, global diesel consumption surged to a fresh all-time high in the fourth quarter of 2021. The boom reflects the lopsided COVID economic recovery, with transportation demand spiking to ease supply-chain messes.”
The reason for this sudden supply shortage is that refineries cut back on production during the COVID charade when lockdowns forced demand to drop. Now that we’ve moved on from the lockdowns, refineries are now struggling “to match this revival in demand,” Blas noted.
It’s almost as if the lockdowns were intentionally used for so many other reasons than stopping the spread of COVID.
“In the U.S., diesel stocks fell last week to their lowest seasonal level in 16 years,” Blas reported. And Europe is even worse off, especially with needed replacement supplies boycotted because it would come from Russia.
The impending diesel crisis also means countries will soon stop exporting diesel and their own supplies dwindle in order to meet domestic needs. That means, nations looking outside their own borders for diesel will suffer major blows to their economies when they can no longer transport goods.
Blas also took his warnings on Twitter where he reported that Trafigura CEO Jeremy Weir told participants at the FT commodities summit that diesel supplies are so low that he expects stock outages:
The full quote from Trafigura CEO Jeremy Weir at the FT commodities summit today is really scary (**my own emphasis**):
“The diesel market is extremely tight. It’s going to get tighter and **will probably lead into stock outs,**” he said, referring to when fuel stations run dry
— Javier Blas (@JavierBlas) March 22, 2022
Keep in mind that all of this started way before the Russian invasion of Ukraine. Biden can try to blame Putin all he wants but this crisis is yet another product of the fraudulent Biden regime and its globalist handlers.
The most frustrating part is that under President Trump, the US was well on our way to becoming completely energy independent and this never would have been a problem. Biden has done the complete opposite and made us almost entirely dependent on foreign oil and resources, which are not stable or reliable at this point.
Things are about to get a whole lot worse before they get better.
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The CEO needs to be immediately arrested and charged with fraud, at the very least. There is NO way that Exxon is out of gas.
This absolute BS. This is not journalism, this is simply political bashing.