Diesel Profits Near Record With Supplies Dwindling Into Winter
- Supplies at the lowest level on record for this time of year
- Rolling diesel prompt spread at highest point since May
A driver fills the tank of his truck with diesel.
Photographer: Mark Renders/Getty Images
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Diesel supplies are so tight heading into winter that profits for producing the heating and trucking fuel are nearing a record high.
The diesel crack spread, a measure of refining profits, touched $77.32 Friday, just shy of the all-time intraday high hit in June. The supply shortage is also evident in the prompt spread -- the difference between the two nearest futures contracts -- which is at the widest level since May.