This post is from CNBC energy producer, Judy Gee.
Record crude oil prices and talks of $4 gasoline aside, there's a quieter, more subtle dilemma lurking in diesel.
Record pump values for diesel surfaced on February 21 and prices have hit daily records ever since. Gone are the days when diesel was cheaper than gasoline. Worried about $4 gasoline? We've already surpassed that mark for diesel. The national average is $4.025/gallon for regular unleaded diesel, which reflects a surge of nearly 60 cents since last month, and an increase of $1.28 above where prices were this time last year.
Today on CNBC's "Squawk Box", Shell Oil's John Hofmeister talked about the growing disconnect between gasoline and the middle of the barrel, where diesel is made. If we don't get more barrels of oil he said, then diesel "prices will stay much higher even though gasoline will come down."