The Spanish newspaper El Pais reported that the European Union could lose indispensable Russian products under current conditions, especially diesel fuel, due to the Russian oil embargo.
The Spanish newspaper El Pais indicated that the price of diesel is still at the highest level, despite a slight decrease in the price of gasoline in the European Union.
Journalist Ignacio Varesa said in a report: “Every gas station costs a lot of money and such a rise in fuel prices after the Corona pandemic is linked to the increase in prices of major commodities such as oil, however there are other factors that also affect the cost of diesel and petrol “.
He added that “Europe is a net exporter of gasoline, but it needs more diesel than it can produce, and still more than a third of this commodity comes from Russia and its forced abandonment contributes to high prices for several months.” .
This was confirmed by the chief economist of Vortexa: “Of all Russian petroleum products, diesel is the most difficult to replace”.
Experts say that due to current circumstances, the European Union is unable to compensate for the shortage of diesel from Russia, either by itself, or by increasing supplies from alternative sources.
They pointed out that most of the local refineries have closed due to declining profitability, while the number of electric vehicles has increased, which has contributed to the increase in demand for diesel.
Western countries are facing high energy prices and high inflation due to the imposition of sanctions on Moscow and the policy of abandoning Russian energy resources. Against the backdrop of rising fuel prices, especially gas, industry in Europe has largely lost its competitive advantages, which have also affected other sectors of the economy.
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