The United States is experiencing significant increases in both gasoline and diesel prices, with diesel seeing its largest two-week price hike on record. Regional issues, particularly in California, are exacerbating the situation, while global conflicts are driving up crude oil costs.
Structured situation lines from the latest stored report for this country.
Diesel prices have reached an average of $5.04 per gallon nationally, marking a record $1.20 increase in the last 14 days. This spike is largely attributed to the ongoing conflict in Iran and its impact on global oil supply routes.
California drivers are facing average gasoline prices of $4.54 per gallon, with some urban areas nearing $5. This 40-cent surge in two weeks is driven by the closure of Phillips 66 Los Angeles and Valero Benicia refineries, reducing state refining capacity by nearly 18%, and the early transition to summer-blend gasoline.
The ongoing war in Iran has led to the closure of the Strait of Hormuz, a critical waterway for global oil shipments. This disruption is a primary factor in the rising prices for oil, fuel, and gasoline in the U.S.
Beyond California's closures, other refinery maintenance activities contribute to tighter supply in various regions. While specific recent national outages within the last 14 days are not detailed, the cumulative effect of such events impacts overall fuel availability and pricing.
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Practical items from the latest stored report. Not safety or legal advice.
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