There are fears that petroleum refining companies will not be able to produce enough diesel, which will open a new front of inflationary pressures, depriving economies of the fuel that fuels both industry and transportation.
While oil futures are rising rapidly – hitting just under $95 a barrel in London – This increase is less compared to diesel.
Prices have jumped above $140, marking an all-time high for this time of year, while the European equivalent has risen by 60% since the summer.
Saudi Arabia and Russia have reduced crude oil production, which contains large amounts of diesel. On September 5, the two countries that lead the OPEC + alliance – announced that they would extend these cuts until the end of the year, a period in which demand for fuel usually rises.
