Diesel prices—no relief in sight
On Monday afternoon,?the future price for Ultra Low Sulfur Diesel (ULSD)?was $2.94.?Recall this is the price in NY Harbor if you buy 42,000 gallons next month.?In the graph below, it is even more expensive than ARA - ARA (Amsterdam, Rotterdam, Antwerp including Flushing and Ghent) and Singapore.?
Remember these prices don’t include taxes, transportation, distributor margins etc.??
What’s the future??Who knows??But you should keep in mind Russia is one of the largest oil producers in the world (see table) and cutting them off would create massive inflation.
Other points of interest:
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2 年Thomas, thanks for sharing!
Permanent Deacon at Roman Catholic Diocese of Northampton + Independent Technical Consultant on Paints and Surface Coatings
3 年I know that it's painful for everyone, but we need to keep our hands round the throat of Putin and squeeze the life out of his evil regime with sanctions. We also need to keep pressure on OPEC to increase production to compensate for not taking any oil or gas from Russia. Disgracefully they failed to agree to do this yesterday.