Moscow:The global diesel market is experiencing a significant shortage, with diesel prices reaching record highs.
According to Azeri-Press news agency, Russian Deputy Prime Minister Alexander Novak attributed these price surges to several factors, including the closure of the Strait of Hormuz, sanctions restrictions, and attacks on oil refining infrastructure.
Novak highlighted that a considerable volume of petroleum products was previously supplied through the Strait of Hormuz, and Russia’s ban on exports has further exacerbated the shortage. This situation is notably impacting prices in Europe and the United States.
He also emphasized that the current challenges are compounded by disruptions in logistics and transport routes, contributing to the ongoing supply issues.