U.S. gasoline and diesel prices surged Thursday amid geopolitical conflicts, with national average gasoline jumping to $4.44 per gallon and diesel hitting a record $6.40. Energy experts project further increases driven by reduced global refining capacity, ongoing wars in the Middle East and Eastern Europe, and attacks on critical oil infrastructure including Saudi Arabia's East-West pipeline.
FSC 432 is an introductory course on petroleum refining taught by Dr. Semih Eser at Penn State that covers how physical and chemical processes convert crude oil into compliant fuels and materials. The 12-lesson course examines separation, conversion, and finishing processes in refineries, from crude oil composition through natural gas processing and future refining technologies.
U.S. diesel prices are approaching $6 a gallon for the first time, up 61% year-over-year due to global supply constraints from the Ukraine-Russia conflict and reduced refining capacity. While businesses have absorbed costs so far, economists expect higher prices to eventually ripple through to consumers via groceries, transportation, and other goods within weeks if prices remain elevated.