U.S. diesel demand fell to its lowest seasonal level in 26 years in March, driven by a significant slowdown in economic growth.
In March 2024, US diesel demand plummeted to its lowest seasonal level in 26 years, driven by a significant slowdown in economic growth. According to the US Energy Information Administration EIA , the product supplied of distillate fuel, essential for trucking, heating, and heavy industry, fell to 3.67 million barrels per day. This figure marks a downward revision from previous estimates, highlighting the severity of the economic deceleration.
'It's a function of the slowing economies in Asia and the US, and how inflation is tightening consumer spending habits,' Kissler told Bloomberg. 'People aren't spending money like they were a year ago.' A month ago, lukewarm demand for diesel and other distillates had traders scrambling to secure storage tanks on the U.S.
Demand Economy EIA Slowdown Fuel Trucking Crude Oil
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Gasoline, Diesel Demand Hit Seasonal Low Not Seen Since COVIDDemand for gasoline and diesel in the United States has plunged to its lowest seasonally since the onset of the COVID pandemic
Read more »
Memorial Day Jet Fuel Demand Outshines GasolineJet fuel demand surged over Memorial Day weekend, though gasoline demand has lagged.
Read more »
Money latest: These are the most in-demand holiday destinations this yearWelcome back to our Money blog, where we bring you all the latest consumer and personal finance news and tips. This week we're kicking off by talking about holidays (seeing as the sun has finally come out), and we're answering a reader's Money Problem on an undeclared management fee.
Read more »
Wood Mackenzie Sees Gasoline Demand Plummeting This YearAccording to Wood Mackenzie, global gasoline demand is set to decline dramatically this year due to the greater adoption of electric vehicles.
Read more »
Scotland's Home of the Year hits Highlands and IslandsIt's episode three of BBC SHOTY and judges Anna, Banjo and Danny have reached the Highlands and Islands of Scotland.
Read more »
NHS Scotland backlog hits 840,000 - as inpatients waiting for more than a year increase by 25%Scottish Tory health spokesman Dr Sandesh Gulhane said the backlog was 'out of control'.
Read more »