U.S. Diesel Demand Hits 26-Year Seasonal Low Amid Economic Slowdown

In March 2024, US diesel demand plummeted to its lowest seasonal level in 26 years, driven by a significant slowdown in economic growth. According to the US Energy Information Administration (EIA), the product supplied of distillate fuel, essential for trucking, heating, and heavy industry, fell to 3.67 million barrels per day. This figure marks a downward revision from previous estimates, highlighting the severity of the economic deceleration. The deteriorating diesel market is a concerning signal for broader oil demand. Dennis Kissler, senior…