Distillate demand generally spikes in spring — when farmers are planting crops — and in fall, when they are harvesting those crops and people start buying fuel oil for winter. Thus, a low distillate inventory in late April 2008 isn't quite as serious as a low inventory in October 2022. In fact, distillate inventories haven't been this low in October since the EIA began reporting this data in 1982.

These low distillate inventories are why diesel prices are above $5.00 a gallon nationwide, even though the nationwide average price for gasoline has dropped below $4.00 a gallon.

Why is there a diesel shortage this year? There are four factors, but two of those factors are in play every year.

As mentioned above, distillate demand spikes at this time of year. But, it does that every year.