US stocks of diesel and heating oil have plunged to historic lows, driving up prices for fuels critical to industry, freight, farming and many households.
Inventories of the fuel category that includes both products stood at 107.4mn barrels last week, according to government data released on Wednesday, up slightly from the week before but the lowest level for this time of year since 1951.
The highway price of diesel is up 47 per cent from a year ago to $5.35 a gallon, while heating oil has jumped 70 per cent to almost $6 a gallon. West Texas Intermediate, the US crude benchmark, has gained only 6 per cent year over year.
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