Diesel rationing could hit East Coast this summer, refinery owner says

The East Coast of the U.S. could face a worsening diesel shortage this summer, John Catsimatidis, CEO of United Refining Co., said in an interview with Bloomberg. United produces some 70,000 barrels of petroleum products each day and sells gasoline throughout western New York and northwestern Pennsylvania, according to the company’s website.

“I wouldn’t be surprised to see diesel being rationed on the East Coast this summer,” Catsimatidis told Bloomberg’s Lucia Kassai. “Right now inventories are low, and we may see a shortage in coming months.”

Diesel prices hit a new high of $5.557 a gallon on Thursday, according to the American Automobile Association. Unleaded gasoline also hit a record $4.418 per gallon.

Carriers and owner-operators — especially those with already-slim margins — are struggling to keep up with rising diesel prices.

Catsimatidis said he doesn’t expect the 350 stations United Refining operates to be low on gasoline; it will just be very expensive. “Drivers will pay the highest gasoline prices ever paid for Memorial Day.”

National diesel inventories are the lowest in 17 years, and East Coast stockpiles haven’t been this low since 1990, according to the Department of Energy.

By NC ScoutPublished On: May 14, 2022Categories: Uncategorized1 Comment

About the Author: NC Scout

NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small unit skills rarely if ever taught anywhere else in the prepping and survival field, including his RTO Course which focuses on small unit communications. In his free time he is an avid hunter, bushcrafter, writer, long range shooter, prepper, amateur radio operator and Libertarian activist. He can be contacted at [email protected] or via his blog at brushbeater.wordpress.com .