economy
April 2, 2026
DIESEL EXPLODES OVER 200 DOLLARS! World on the brink of the biggest energy collapse in history!
Fuel becomes gold
TL;DR
- Diesel prices have exceeded $200 per barrel on the European market, a high not seen since 2022.
- The rise is attributed to fears that the US-Iran conflict could destabilize global energy markets.
- The disruption of transport through the Strait of Hormuz, a key global supply point, has blocked millions of barrels of refined oil products.
- Diesel prices have been increasing faster than crude oil prices since the start of the US-Iran conflict.
- The International Energy Agency warns Europe could face significant diesel and jet fuel shortages in April or May.
- Asian markets have also seen diesel prices exceed $200 per barrel.
- Europe is planning to release approximately 73 million barrels of oil products and 35 million barrels of crude oil to mitigate the crisis.
- 10.3% of global diesel trade, 19.4% of jet fuel trade, and 16% of gasoline and crude oil trade pass through the Strait of Hormuz.
- Attacks by Ukrainian drones on Russian ports and refineries are further reducing global fuel availability.
- Russia, a major diesel exporter, has restricted its exports, with sales to foreign buyers limited to producers until July.
- Approximately 40 key energy facilities in the Middle East have been damaged since the conflict began, requiring time to repair.