European diesel and petrol prices set a new historical record, jumping by $200 per tonne in just one day. The reason for this is the US war in Iran, which has doubled the cost of diesel. Despite this, Ukraine imported record volumes of fuel, and no shortage is expected.
A historic jump in fuel prices in Europe
Today, wholesale diesel and petrol prices in Europe have reached their highest level in decades. According to fuel market expert Sergiy Kuyun, prices on the exchanges rose by $200 per tonne over the past day alone. The last time such a price surge was seen was in the 1970s.
The impact of the US war in Iran on the market
The main factor behind the increase was the US war in Iran. Since the outbreak of hostilities, the price of diesel in Europe has more than doubled, which has significantly affected the cost of imported fuel for Ukraine.
Record diesel imports to Ukraine
Despite the record price increase, Ukrainian petrol stations imported the largest volumes of diesel in the last 5 years in March. Sergiy Kuyun emphasises that no shortage of diesel or petrol is expected, as the supply situation is under control.
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