Upcoming diesel shortage likely to drive up store prices

WILLIAMSBURG, Ohio (WKRC) - Major fuel companies are sounding the alarm of an upcoming diesel fuel shortage that could soon impact your wallet.

The United States is down to about a 25-day supply of diesel fuel. Typically, that number is closer to 35 or 40.

From the farm to the freight train, and every truck and boat-load of goods in between, every bit of production and distribution will, if it hasn't already, feel the effects of the diesel shortage.

"It’s just one of those things, we are going to have to bite the bullet,” said Tim Zurmehly.

Zurmehly farms about 400 acres of corn and beans in Clermont County. One of his biggest costs is diesel fuel.

"This is a 1,000 gallons (tanker) I had filled about a month ago. It was $4.89 to fill this. I just had the 1,000 gallons filled, and it was $5.09,” said Zurmehly.

Zurmehly says he and his farming and trucking neighbors are somewhat anxious about what's to come.

"There is some concern about that. That’s why I went ahead. I didn’t want to pay $5.09, but that’s why I did it -- so I can have diesel on hand finish harvest,” said Zurmehly.

While Zurmehly probably has enough fuel to get to next spring, supply is getting critically low.

It's down because of a number of factors, including post-COVID demand, refinery problems, and Russia’s war in Ukraine.

"We can’t do anything about it, but we need to figure it out. Maybe we need to drill a little more in the United States,” said Zurmehly.

Locally, diesel providers are already running out of daily supply, and even wait-listing trucking companies, farmers, and homeowners.

Director of the National Economic Council Brian Deese says the White House is doing what it can to increase the supply.

"This president has been focused on what he can do and the tools he can use to bring down the costs at the pump," Deese said. "We've made very significant progress since the beginning of the summer, when prices were over $5. We are now down more than $1.25."

At the pump, you likely won't see prices go up for gas, but the grocery store is a different story, as diesel powers the shipping industry. Prices on all goods go up when the price of diesel goes up.

Energy experts say while the current supply is limited, it does not mean the US will run out of diesel.

However, there are concerns of panic buying and stocking, which could makes all of this much worse.