Diesel Priced Almost As Low As Gasoline, As Gas Demand Surges - Green Car Reports
The price of diesel fuel in the U. S. has fallen more than 25 cents per gallon this year. The difference in price between gasoline and diesel is now the smallest that it's been in six years. Diesel could even fall to the price of gasoline in the coming weeks, reports Bloomberg, as unusually high gasoline consumption continues as the U. S. heads into the heart of the summer driving season. Average gas prices surged 55 cents per gallon $2. 77 last week, AAA data show. At the same time, diesel was down 27 cents per gallon, to $2. 85. The difference has averaged 9. 3 cents per gallon so far this month--reportedly the smallest gap since August 2009. The shrinking of that price gap isn't just because of cheap diesel. refineries are reportedly processing record amounts of crude oil for this time of the year, but gasoline stockpiles have fallen five out of the past seven weeks. Drivers are consuming an estimated 9. 35 million barrels of gasoline a day--the highest since pre-recession 2007. Consumption could potentially increase further as the summer driving season continues. Source: www.greencarreports.com
