WASHINGTON, D.C. --- The warmest January on record in the United States has helped total distillate fuel inventories, which include diesel fuel, increase at a time when they normally decline, according to the Energy Department. The result is a stabilization of diesel pricing.
Between Dec. 30 and Feb. 3, total distillate fuel inventories grew by 7.1 million barrels. That represents the largest increase in January since 1990, reported the Energy Department’s Energy Information Administration. In contrast, the most recent five-year monthly average for January was a decline of 9.5 million barrels.
Even in the event of a late-winter cold snap, upward price movement would likely be minimal.
Originally posted on Fleet Financials