Aug. 5 at 3:59 PM
$SSL Middle distillate levels are at 20 year lows globally.
The world uses way more diesel than it did 20 years ago.
Crude oil prices will drop because there are not enough refineries.
Most US refineries have delayed maintenance for months. They must start shutting down soon or risk mechanical failures or worse.
When those shut downs happen expect diesel in the US to get expensive.
$10 a gallon in areas with high taxes is a real possibility.
If you have farmer friends tell them to get deliveries now don't wait.
I would expect a "national average" of
$7.50.
2027 will be worse. Iran and Ukraine have destroyed so many refineries and many just won't rebuild because they can get hit again.
