The U.S. authorities are discussing the possibility of starting to sell off diesel fuel stocks from strategic storage. Such a move would allow them to reduce the cost of fuel at gas stations across the country and curb inflation, which could break the record for the last four decades. The country’s fuel stocks are already at an all-time low, and diesel prices have risen proportionately across the country. That’s what CNN reported, citing its own sources.
According to CNN, the problem is especially acute in the northeastern United States. A senior White House official called the system “definitely overloaded.
Experts say the move will not help solve the problem, but it will buy the U.S. government some time. Lipow Oil Associates President Andy Lipow thinks selling off strategic reserves will buy a couple of weeks or months at most, but it won’t solve the underlying problem.
Earlier this week, the average price of diesel fuel was $5.54 a gallon. Compared to last spring, the price tag is up 75 percent. In New York, the cost per gallon even reached $6.5, and by the end of the year, experts predict a price increase of up to $10.
The record rise in prices for both gasoline and diesel fuel in America became known in mid-May. According to reports, gasoline has become more expensive one and a half times over the year.