US Pushes Refiners to Boost Diesel Output as Prices Soar

The U.S. Department of Energy has called on refiners to significantly boost diesel fuel production to bring down soaring prices, currently above $6 per gallon. This initiative includes ongoing discussions with refiners in the U.S. and abroad, following a decision by President Trump to waive sanctions on Russian exports to secure additional supply. The federal government's move aims to alleviate inflationary pressures from high energy costs. A sustained drop in diesel prices could ease global inflation concerns, potentially influencing the Federal Reserve's monetary policy and impacting gold prices, while also reducing Pakistan's import bill and stabilizing USD/PKR.

بحوالہ / Source: oilprice.com