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NYC Billionaire Catsimatidis Warns of Looming East Coast Diesel Rationing

  • East Coast diesel stockpiles are the lowest on record
  • Diesel prices have risen 16 straight days to a new record
John Catsimatidis
John CatsimatidisPhotographer: Victor J. Blue/Bloomberg
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The diesel crisis in the US may get worse this summer with the potential of shortages and rationing on the East Coast, said billionaire refinery and fuel station owner John Catsimatidis. 

“I wouldn’t be surprised to see diesel being rationed on the East Coast this summer,” Catsimatidis, CEO of United Refining Co., said in a phone interview. “Right now inventories are low and we may see a shortage in coming months.”