Decades Of Refinery Mismanagement Are Behind $6 Per Gallon Diesel

So here we are, with diesel at $6 a gallon. Listening to the political conversation, you could easily come away thinking this all started when Iran went to war. In fact, it didn’t. Iran supplied the shock, but we had already built the vulnerability, which is a key distinction. Yes, the war in the Middle East has disrupted oil flows and tightened global supplies. The Energy Information Administration says that tight global distillate supplies and elevated crude prices are pushing diesel prices higher. U.S. distillate inventories have fallen below their five-year range, while the loss of significant refining and petroleum-product...