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U.S. energy exports are booming while Americans are experiencing peaking gas and diesel prices. From January to May of 2022, the U.S. exported 3.13M B/D of crude oil, making it the best 1st five months of the year ever.
We also exported 2.32M B/D of gas and diesel, thus creating the best 1st five months since 2019 (Pre-Covid). In addition to all of this, U.S. Gasoline, Diesel, and Jet Fuel refining capacity is down by 860,000 B/D/ which is 37% of the 2.32M barrels per day of gas and diesel exported from the U.S.
Marine fuel prices have doubles since last year (April 2021 to April 2022). Ultimately what we're seeing is a cutting in production and the exporting of the remaining supply. In fact, a portion of the U.S. Strategic Petroleum Reserve Release is already heading to Europe. This is in addition to the 1.27M B/D of of Gas and Diesel being exported to Europe as it is.
Diesel prices are likely to increase in the near future. Be ready.
#diesel #dieselprice #dieselpricehike
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