Global diesel prices ease as winter approaches
Summary
Global diesel prices have fallen sharply in recent weeks as Gulf exports recover and oil supplies resume after disruptions linked to the Iran war and the Strait of Hormuz blockade. Prices remain about 77% above pre-war levels in Europe, while the U.S. national average fell below $6 per gallon on Saturday.Key Facts
- Diesel prices had stayed elevated since the Iran war began and the Strait of Hormuz was blockaded.
- Global diesel prices fell sharply in recent weeks.
- Gulf exports have recovered.
- Global oil supplies are getting back on track for the first time since February.
- European diesel prices remain roughly 77% above pre-war levels.
- The U.S. national average diesel price fell below $6 per gallon on Saturday.
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