US diesel supplier warns businesses to prepare for shortages, higher prices for consumers
Company suggests being aware of tank levels and not 'panic buying' fuel.
By Greg Wehner FOXBusiness
Ohio farmer on rising diesel cost: It’s a ‘challenge’
Yoder Farms owner Josh Yoder says he spends $1,500 a day for one tractor amid skyrocketing diesel cost.
Fuel supplier Mansfield Energy is taking steps to prepare for a diesel shortage on the East Coast of the United States, issuing an advisory to businesses that rely on the fuel to plan rather than panic. Last week, Mansfield Energy raised a red flag on the upcoming diesel fuel shortage in the southeastern region of the U.S., speculating it could be from "poor pipeline shipping economies" and a historically low supply of reserves.
On a normal day, the East Coast markets have 50 million barrels in storage, but right now, there are less than 25 million barrels available. "A tight diesel supply will force prices to go up, which will eventually make it too expensive for some people," the company said in a press release on Monday. "High prices will bring demand back down enough that it balances with limited supply."
more............. https://www.foxbusiness.com/economy...ses-prepare-shortages-higher-prices-consumers
Company suggests being aware of tank levels and not 'panic buying' fuel.
By Greg Wehner FOXBusiness
Ohio farmer on rising diesel cost: It’s a ‘challenge’
Yoder Farms owner Josh Yoder says he spends $1,500 a day for one tractor amid skyrocketing diesel cost.
Fuel supplier Mansfield Energy is taking steps to prepare for a diesel shortage on the East Coast of the United States, issuing an advisory to businesses that rely on the fuel to plan rather than panic. Last week, Mansfield Energy raised a red flag on the upcoming diesel fuel shortage in the southeastern region of the U.S., speculating it could be from "poor pipeline shipping economies" and a historically low supply of reserves.
On a normal day, the East Coast markets have 50 million barrels in storage, but right now, there are less than 25 million barrels available. "A tight diesel supply will force prices to go up, which will eventually make it too expensive for some people," the company said in a press release on Monday. "High prices will bring demand back down enough that it balances with limited supply."
more............. https://www.foxbusiness.com/economy...ses-prepare-shortages-higher-prices-consumers