LITTLE ROCK — The average price for a gallon of diesel fuel in the U.S. is continuing to drop.
According to the latest statistics from the Energy Information Administration (EIA) the current average price sits at $4.128, down from $4.185 on March 20 and $4.247 on March 13.
Many refiners have prioritized making diesel over gasoline to meet demand from Europe, where sanctions on Moscow and strikes in France have limited distillate flows into the region, Brayton Tom, regional director for energy at financial services firm StoneX, told Reuters recently.
U.S. refineries are operating at 86% of capacity, down from 89% a year ago; however, a major Exxon Mobil Corp refinery expansion could raise output.
When fully operating this month, it will be able to process 250,000 additional barrels of crude daily into gasoline and diesel.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.