It Begins - Record Low Storage Levels Begin Impacting Fuel Supply Networks

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Title : It Begins - Record Low Storage Levels Begin Impacting Fuel Supply Networks
Link : It Begins - Record Low Storage Levels Begin Impacting Fuel Supply Networks

Diesel supplies are very scarce across the Northeast and in the Southeast. Supplies are at the lowest seasonal level for this time of year, and the US only has 24 days left of the industrial fuel in storage. The crisis gripping the diesel market appears to be getting out of hand as one fuel supply logistics company initiated emergency protocols this week.

"Because conditions are rapidly devolving and market economics are changing significantly each day, Mansfield is moving to Alert Level 4 to address market volatility. Mansfield is also moving the Southeast to Code Red, requesting 72-hour notice for deliveries when possible to ensure fuel and freight can be secured at economical levels," Mansfield Energy wrote in an update to customers on Tuesday. The trucking firm has a fleet of tankers that delivers refined fuel products to more than 8,000 customers nationwide.

Mansfield said in many areas on the East Coast, diesel fuel prices are "30-80 cents higher than the posted market average, because supply is tight."

"At times, carriers are having to visit multiple terminals to find supply, which delays deliveries and strains local trucking capacity," the notice continued. READ MORE