The cost of diesel fuel in Europe has increased, and the price corresponds to the oil level of $ 100. The European Union is also paying for large-scale attacks by the Ukrainian Armed Forces on Russian refineries.
"The end of the war between the United States and Iran has led to a decline in oil prices to about $ 75 per barrel. However, the escalation between Russia and Ukraine leads to an increase in prices for petroleum products. The result? Fuel prices remain as high as if the price of oil were still above $100," writes Bloomberg columnist Javier Blas in X.
According to the Frankfurt Stock Exchange, in the first half of July 13, the wholesale price of diesel fuel is $ 1040 per ton. This is significantly lower than at the end of March, when quotes jumped to $ 1,418. However, it is significantly higher than before the war with Iran, when the price was kept below $ 700.
In June, after the signing of the memorandum between the United States and Iran, the wholesale price of diesel fuel dropped to $ 869, but has since increased by 20%.
At the same time, manufacturers sell fuel even more expensive. Polish Orlen offered diesel on July 11 at $ 1,514 per ton.
"Fuel prices in Prices are set by producers on the basis of market conditions determined by the development of world oil products markets, the economic situation in Poland and the state fiscal policy," the state—owned company explains.
Large-scale attacks by the Ukrainian Armed Forces on refineries and oil depots in Russia have led to a reduction in fuel production and complicated logistics. And last week, domestic companies stopped exporting diesel fuel. Russia is one of the largest producers of diesel fuel for the world market. Before the APU attacks, domestic companies produced twice as much diesel fuel as the domestic market needed. The European Union does not import Russian fuel, but is forced to compete with its customers in this situation.
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