Latest news with #distillate
Bloomberg
05-08-2025
- Business
- Bloomberg
Diesel Pump Prices Are Surging in Potential Boost to Inflation
US diesel prices at the pump have surged to the highest in almost a year as retail markets catch up with tightness in global supplies of the widely used fuel, threatening to boost inflation. The national average price of a gallon of diesel has risen 7% since early June to $3.738 on Monday, near the highest since August 2024, American Automobile Association data show. The rally was sparked by a flareup in the conflict between Israel and Iran and has been sustained by outages at refineries in Europe and a dearth of distillate-rich crudes.
Argaam
02-07-2025
- Business
- Argaam
US crude inventories log 3.8M-barrel hike last week
US crude oil inventories increased unexpectedly in the week ended June 27, marking the first weekly hike in six weeks, data by the Energy Information Administration (EIA) showed. Commercial crude inventories added 3.8 million barrels last week, compared to forecasts for a 1.7-million-barrel slump. Gasoline inventories also jumped by 4.2 million barrels, while distillate stocks — including diesel and heating oil — shed 1.7 million barrels.
