Diesel Supply Strains Deepen While Trucking Demand Recovers in ...

The U.S. trucking industry is expected to rebound, putting pressure on the already low diesel market. Retailers reducing excess inventory and construction projects from President Biden's stimulus programs are increasing domestic freight demand and the use of diesel-powered truck fleets. This will lead to increased diesel consumption while fuel stockpiles are at their second-lowest levels since 2000. Farmers and homeowners relying on diesel for crops and heating oil will be affected, and the price increase could lead to broader inflationary pressures. Diesel futures and retail prices are already high, and there is a global shortage of diesel due to OPEC's output limits and Russia's export curbs.

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