Wyoming Proposes A Voluntary Phase-Out Of EV Sales By 2035

The legislature in Wyoming is proposing a resolution for a voluntary ‘phase-out’ of electric vehicle (EV) sales by 2035, in a symbolic move aimed at supporting the state’s oil and gas industry and a response to states such as California and New York, which have said they would ban the sale of new gasoline-powered cars from 2035.

Diesel Price Declines Forecast to Continue Into 2023

In something akin to a gesture of holiday good will, diesel prices at the pump have continued to drop and analysts expect 2023 to bring more of the same. According to AAA, the average price per gallon for diesel on Friday in the U.S. was $4.80, down nearly 20 cents from a week prior and down 55 cents from last month’s average.

The Diesel Crunch Is Finally Causing Demand Destruction

High prices seem to have started to weigh on diesel demand in the United States, where distillate inventories – comprising diesel and heating oil – have been slowly rising over the past few weeks. American distillate inventories are still below the five-year average, but the gap in stocks compared to previous years has slowly started to narrow, suggesting that high prices are hitting demand, while encouraging more refinery output thanks to solid refining margins.