Diesel Markets Are Spiking and It’s Not Even Winter Yet
- European benchmark futures jumped near $180 a barrel this week
- Low stockpiles and French strikes combining to drive up prices
A sign indicates that diesel is unavailable as customers queue for fuel at a TotalEnergies SE gas station in Paris, France, on Oct. 7.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
Diesel prices are soaring in Europe and the US, spurring a fresh bout of inflationary pressure ahead of a winter that is expected to see major supply disruption.
Europe’s benchmark diesel price neared the equivalent of $180 a barrel earlier this week. In the US, prices in California topped $190, while in New York Harbor they are close to $170.