Economy · World
Ukraine war impacts global diesel prices, hitting US highs
Attacks by Ukraine on Russian oil refineries are contributing to a global surge in diesel prices, with U.S. prices reaching an all-time high. This disruption to refining capacity and trade flows is impacting finished fuel markets, particularly diesel, and contributing to inflationary pressures in regions like Europe. The situation is occurring despite crude oil prices not reaching record highs, indicating that refining capacity and the availability of finished fuels are key drivers of current pump prices.
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- Centre (3): Euronews, Fortune, Irish Independent