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2026-09-18 20:52:10
[Diesel Prices Hit Record High Amid Refinery Shutdowns and Peak Demand in the US Midwest] ⑴ ExxonMobil's large Midwestern diesel refinery, Joliet, has completely shut down. The plant has a daily processing capacity of approximately 275,000 barrels. ⑵ The plant produces approximately 11 million gallons of gasoline and diesel daily, and its operations were halted due to a complete power outage. ⑶ Energy agencies had initially expected normal production to resume by the end of the week, but it has not yet resumed operations, with the shutdown lasting far longer than anticipated. ⑷ US diesel prices rose to a new record high of $6.45 per gallon today, representing a year-to-date increase of nearly 90%. ⑸ BP's Whiting refinery in Indiana is also partially shut down, coinciding with the peak diesel demand season in the US. ⑹ Diesel prices rose approximately 45 cents in the seven days following the breach of $6, and at this rate, they may break $7 by October. ⑺ The current situation coincides with the autumn harvest and the approaching winter, with Joliet shutting down, Whiting reducing production, and Russian diesel exports suspended. (8) Saudi Aramco's tender for diesel in Europe and the US's consideration of suspending exports have exacerbated supply shortages. (9) From a market sentiment perspective, the bottleneck in middle distillate supply has become a key variable driving up inflation and transportation costs. (10) Going forward, attention should be paid to the progress of refinery resumption, changes in export policies, and whether diesel crack spreads can remain high.
