The world is facing diesel shortage

Diesel shortage is affecting industry and transport globally, adding to the global inflationary pressure.

US diesel prices hit record high for this season on September 14, while European prices surged by 60% since the summer.

Production curbs by Saudi Arabia and Russia, OPEC+ leaders, deficient efficiency in oil refineries, and focus on other fuels are contributing to the crunch.

The diesel shortage may ease with weather-related constraints on refineries decreasing in the winter months.

Persisting concerns remain particularly about diesel supply from Russia and China, the key exporter nations.

Surging diesel prices have economic implications, may push refineries to shift focus from gasoline, and can hinder US economic recovery.