{
  "id": 3609753,
  "title": "US diesel supplies hit record low as demand season looms",
  "url": "https://urgent.news/2026/08/26/us-diesel-supplies-hit-record-low-as-demand-season-looms-3609753",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-26T22:50:34.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/international/us-diesel-supplies-hit-record-low-demand-season-looms"
  },
  "original_language": "en",
  "account": "U.S. diesel supplies have plummeted to record low levels as the demand season approaches, potentially driving up global fuel prices simultaneously. According to data from the Energy Information Administration, distillate fuel oil stocks, which include diesel, reached a seasonally low point of 103.4 million barrels by the week ending August 21. Such low stockpiles are unprecedented for this time of year, dating back to the early 1980s. Global diesel demand typically surges in October due to the onset of winter heating season and harvests in the Northern Hemisphere coinciding with planting season in the Southern Hemisphere. This sharp increase in demand could exacerbate already high prices and contribute to energy-inflated inflation. The ongoing conflict in Iran has further exacerbated energy markets, but refined products have proven more resilient than crude flows, with exports through the Strait of Hormuz reduced to almost zero. Russia's suspension of diesel exports, prompted by Ukrainian drone attacks on its refineries, has added to the issue. Moscow may extend the export ban for another month, further straining trade partners. Currently, retail diesel prices in the U.S. exceed $5.60 per gallon, nearing the highest levels since the beginning of the U.S.-Iran war and just under 20 cents away from the all-time record set in 2022. In contrast, U.S. petrol prices remain stubbornly above $4 per gallon. US refiner margins for producing diesel have hit record highs, signaling an outsized global demand for US-produced fuel. However, US exports of the fuel have reached exceptionally high levels, but they are insufficient to offset the losses incurred.",
  "summary": "This may further lift global fuel prices as heating and agricultural seasons begin",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "US Diesel Supplies Hit Record Low as Demand Season Looms",
        "url": "https://urgent.news/2026/08/26/us-diesel-supplies-hit-record-low-as-demand-season-looms",
        "published": "2026-08-26T17:41:41.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "US diesel supplies hit record low as demand deason looms",
        "url": "https://urgent.news/2026/08/26/us-diesel-supplies-hit-record-low-as-demand-deason-looms",
        "published": "2026-08-26T23:35:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}