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It’s chaos in the diesel market internationally, and it’s very bad news for the price at the pump…

  • Post category:Economy News
  • Reading time:2 mins read

According to the Bloomberg news agency, the diesel market is in chaos internationally. This explains why the price of diesel at the pump has risen sharply in recent days.

This Saturday, the maximum price at the pump for B7 diesel also rose to 2.2390 euros per litre. In doing so, diesel is approaching its record reached in March 2022 (2.2860 euros per litre).

In Europe, the demand for diesel is greater than the supply. Strikes in refineries in France also play a role, as does the freezing of Russian diesel exports, when it represents 20% of the diesel present in Europe. And as if that weren’t enough, diesel stocks in the United States are at an all-time low and Joe Biden’s administration has asked producers to limit their exports.

Such a shortage of diesel can only have negative effects on the global economy, analysts say. High diesel prices are not going to help inflation and it is likely to get worse with the ban on all imports from Russia.