Diesel

Gas and diesel prices are reported to be setting records for this time of year, with no immediate relief in sight. The national average price for regular gas hit $4.03 a gallon on Wednesday, establishing it as the highest figure recorded late in the calendar year.

Russian diesel exports reached a multiyear low in early August. This decline was attributed to Moscow restricting fuel exports following attacks on the country's refineries.

Wars in the Middle East and Ukraine have caused a diesel squeeze for the world’s workhorse fuel. This situation anticipates an even worse crunch because demand is rising ahead of the Northern Hemisphere winter.

While crude oil is retreating, overall fuel prices remain elevated according to reports. This dynamic means that US refineries are currently cashing in, while consumers face increasing costs for diesel and petrol.

The government has increased export duties on petrol, diesel, and ATF. This decision follows the peak of the West Asia conflict in late March, prompting fortnightly reviews of export duty.

Diesel prices in South Africa could rise by up to R1.91 per litre in August due to higher global fuel prices, potentially driving food prices higher. Petrol prices are expected to remain nearly unchanged during the same period.

China is aiming for 100% renewable power at its Antarctic bases by 2035. Currently, diesel is the main energy source for power and heating at research stations in Antarctica, but the focus is shifting toward renewable alternatives due to extreme environmental conditions.

Aged-care nurses in Australia received a pay raise starting August 1, while fuel excise relief is set to end at midnight, potentially pushing petrol prices above $2 per litre and diesel to $2.40. The government stated that improved wages for nurses aim to enhance care quality for older Australians.

Petrol prices are set to exceed $2 a litre as the government's 16-cent discount ends, with diesel expected to surpass $2.40 a litre. The fuel excise reduction, initially 32 cents per litre in March, was halved to 16 cents in July before its scheduled expiration.

Russia has extended its gasoline and diesel export ban until January 2027. The average price of gasoline in Russia has increased by 19% since the start of the year, primarily due to Ukrainian attacks on oil refineries.

The government maintained petrol and diesel prices for July 26 and 27 due to the non-publication of Platts prices on weekends. Petrol and diesel prices had increased by Rs3.66 and Rs4.80 per litre respectively the previous day, reaching Rs335.18 and Rs383.46 per litre. The Petroleum Division announced daily fuel price adjustments based on international market trends, a shift from weekly revisions, amid tensions between Iran and the US.

The Iran conflict is driving up diesel prices, increasing transportation costs for goods and services like groceries, Amazon deliveries, and home construction. Rising diesel costs could exacerbate inflation and strain household budgets, with potential political implications for the 2026 midterms.

The government increased petrol prices by Rs6.39 and diesel by Rs7.83 per litre, effective July 23, citing global price fluctuations and renewed Persian Gulf hostilities. The All Pakistan Petroleum Pump Owners Association deferred a strike after negotiations, and the Petroleum Minister announced daily fuel pricing to address market volatility.

The government increased petrol prices by Rs4.93 and diesel by Rs7.15 per litre due to Persian Gulf hostilities, with new prices effective July 22. Daily fuel pricing is now in effect, and the All Pakistan Dealers Association plans to protest the decision.

The Indian government has not decided to increase ethanol blending in petrol beyond 20%, and no decision has been made to blend ethanol with diesel for commercial use, as stated by Minister of State for Petroleum Suresh Gopi.

NAFDAC intercepted two tankers in Lagos that were supposed to carry edible vegetable oil but were found to be loaded with diesel, violating food safety regulations.

Gas prices have increased 13 cents from a week ago, reaching $4 a gallon, with diesel at $5.11 and oil above $90 a barrel. The rise coincides with the resumption of U.S.-Iran attacks.

Diesel prices are rising and threatening to cause more economic destruction as investors worry about gasoline prices.

The average price of diesel in the United States rose above $5 a gallon, marking a 33% increase since the start of the war with Iran.

American drivers are paying over $5 a gallon for diesel as renewed hostilities in the Middle East raise concerns about war-induced inflation.

India increased export taxes on diesel and aviation turbine fuel due to the collapse of the US-Iran interim peace deal and renewed hostilities disrupting oil flows and tightening global fuel markets.

Fuel prices are beginning to increase again, with the article highlighting locations where petrol and diesel remain the cheapest. The focus is on current pricing trends and regional cost comparisons.

Ukraine's attacks on Russian oil infrastructure are causing fuel shortages and forcing Russia to restrict diesel exports and import gasoline, with consequences for daily life in Russia ahead of State Duma elections. Strikes on refineries like Omsk and Saratov have disrupted production, while Moscow seeks fuel from Kazakhstan, challenging Putin's narrative of controlling the war's impact.

Russia’s diesel export ban has disrupted global energy markets, causing shortages and price spikes in industrial fuel. The ban impacts countries even those not purchasing diesel from Russia, as diesel is the largest component of global oil consumption used across industries like machinery, agriculture, transport, and electricity.

The government increased petrol prices by Rs13.18 per litre to Rs310.71 and diesel by Rs13.80 to Rs323.30, effective July 11. The hikes follow a rise from Rs281 for diesel and Rs266 for petrol after the US-Iran war began on February 28, with diesel peaking at Rs520.35 and petrol at Rs458.41 in April. IMF conditions led to a doubled climate support levy of Rs5 per litre from July 1, alongside reduced petroleum levies.

The International Energy Agency (IEA) has warned of a potential petrol and diesel supply crunch as refineries in the Gulf and Russia face disruptions from wars. Global consumption of these fuels remains high despite the challenges.

Chile reduced fuel prices for the fourth consecutive week, with 93-octane petrol dropping CLP100.3 per litre and 97-octane falling CLP99.8. Diesel saw the largest decrease at CLP155.4 per litre, while vehicle LPG fell CLP22.1. Kerosene prices remained unchanged.

Russia banned diesel exports due to fuel shortages caused by Ukrainian strikes on refineries, leading to economic strain and political pressure on President Vladimir Putin. The crisis forced Russia to import fuels for the first time in decades, with nearly 30% of refining capacity offline.

China is permitting significant exports of diesel and gasoline this month. The article references fuel storage tanks containing Jet A-1 aviation fuel.

The government reduced petrol and diesel prices by Rs1.97 per litre, effective immediately until July 10, reflecting lower global prices. Diesel prices peaked at Rs520.35 on April 3, while petrol reached Rs458.41. Tax adjustments, including a doubled climate support levy, influenced the price cuts.

U.S. refiners are experiencing strong profit margins as demand for refined fuels outpaces supply due to persistent supply chain constraints, reduced Russian production, and limited global refining capacity. Elevated gasoline and diesel prices are driven by resilient demand, low inventories, and refiners prioritizing diesel and jet fuel production over gasoline.

Pilot stations are offering a 25-cent discount per gallon on gas and diesel this week. The promotion is highlighted for travelers heading out for the July 4 weekend.

South African consumers will experience relief as petrol, diesel, and paraffin prices decrease, according to the Department of Mineral and Petroleum Resources. The price reduction excludes LP Gas.

The government has kept petrol and diesel prices unchanged for the next week, following recent reductions in prices due to declining international oil prices. Prime Minister Shehbaz Sharif had previously announced cuts, but earlier wartime-related price hikes faced public backlash.

Petrobras CEO Magda Chambriard announced the company will import diesel in July, marking a return to foreign purchases after three months without them. Brazil imports roughly a quarter to a third of its diesel consumption, relying on global markets during the harvest season.

The West Asia conflict triggered a surge in global oil prices, but retail pump rates in India remained steady for large parts and rising only by a fraction. Petrol and diesel margins have returned to pre-conflict levels according to the report.

The Federal Anti-Monopoly Service is investigating Neftmagistral and EuroTrans for potential price gouging in Moscow. The companies must submit gasoline and diesel pricing data by June 26.

Brazil will end fuel subsidies for diesel and gasoline if oil prices stabilize near $80 a barrel, according to a senior Treasury official. The decision is linked to a U.S.-Iran deal aimed at resolving the Middle East conflict and reopening shipping lanes.

Tatneft has restricted gasoline and diesel sales at its gas stations in some regions following a Ukrainian drone strike on its refinery. Passenger vehicles are now limited to 30 liters of gasoline and 60 liters of diesel per purchase.

President William Ruto reaffirmed his commitment to stabilizing fuel prices following an Energy Regulatory Authority (EPRA) announcement of a Sh10 diesel price reduction supported by a Sh10 billion subsidy.