ClimateET Techabout 1 hour ago
Global Diesel Shortage Hits Record Prices
1 min read
A global diesel shortage, driven by the US-Iran and Russia-Ukraine wars, has sent prices to record highs. US retail diesel crossed $6 per gallon, up from $3.50 at the year's start. The crisis stems from a 75% plunge in diesel exports from Russia and the Persian Gulf, coupled with reduced Chinese refining. Refining margins have surged to a record $65 per barrel.
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