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Sec. Wright says the US and European allies have officially agreed to release 100 million barrels of diesel. His words: "This lowers diesel prices not just in the United States, but it lowers them in Europe and around the world!" Europe sits on huge diesel stores because it doesn't refine enough to supply its own economy, so it wants American diesel to keep flowing. When Russian exports are shut off and China stops delivering, that's what the reserves are for. Gulf flows got cut but are coming back, and that takes time. Releasing stored diesel is the immediate move. "It will drive diesel prices down as those releases come, it'll drive diesel down through the winter in the United States and around the world." More refining capacity is expected online by the time this plays out. "We'll have more refining capacity online. I suspect we'll continue to see diesel decline as we go into next spring as well." Diesel prices are projected to keep dropping into next spring. Thank 47 for actually tackling the diesel impacts. Our allies stepped up because the US president is strong.

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Flint@flint

Follow

Sec. Wright says the US and European allies have officially agreed to release 100 million barrels of diesel. His words: "This lowers diesel prices not just in the United States, but it lowers them in Europe and around the world!" Europe sits on huge diesel stores because it doesn't refine enough to supply its own economy, so it wants American diesel to keep flowing. When Russian exports are shut off and China stops delivering, that's what the reserves are for. Gulf flows got cut but are coming back, and that takes time. Releasing stored diesel is the immediate move. "It will drive diesel prices down as those releases come, it'll drive diesel down through the winter in the United States and around the world." More refining capacity is expected online by the time this plays out. "We'll have more refining capacity online. I suspect we'll continue to see diesel decline as we go into next spring as well." Diesel prices are projected to keep dropping into next spring. Thank 47 for actually tackling the diesel impacts. Our allies stepped up because the US president is strong.

5d