The price of diesel fuel in Europe has risen to a maximum since July 2024. Stop exporting from Russia and US sanctions against Russian companies have become one of the reasons for the decline in the supply of petroleum products to Europe.
According to the Frankfurt Stock Exchange, on November 19, the wholesale price of diesel fuel rose to $ 801 per ton. This is the highest figure since July 2024. Back in mid-October, diesel fuel was sold in Germany at $ 635 per ton.
Next, as is known, the United States announced sanctions against Rosneft and Lukoil, which owns refineries in three EU countries. In addition, due to the APU attacks, the export of diesel fuel from Russia was completely stopped until the end of November. Oil products are not exported to the EU due to the ban, but customers of Russian diesel fuel have begun to compete with Europeans for alternative supplies.
Argus Media analyst Benedict George told The Financial Times that another reason for the price increase in Europe was the reduction of own production — in recent years several refineries have been closed in the region.
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