While recent talk has mainly been about the shortage and related high prices of natural gas and electricity, in reality the problem is much deeper and the sources of other commodities are also limited. For example, in Europe it is said that there is a serious shortage of fuel, especially diesel.
Not at all or expensive
At the same time, it is a vital fuel, not only for personal transport, but also for transport by truck or ship, and is also used in various segments of the industry. As the Wood McKenzie report states, you need to prepare for the fact that there may not be enough diesel at any given time. In fact, it is assumed that in autumn and winter its reserves will drop to the lowest level since 2011. This could trigger a fuel crisis.
In a market economy, the shortage of a commodity usually does not manifest itself in the fact that it is not available at all, although this can also happen, but rather in the more usual way of skyrocketing its prices. In the case of fuels, we have already experienced something similar a few months ago, but this time it could be a much bigger increase. After all, the American bank JP Morgan predicted long ago that a liter of gasoline could cost up to ninety crowns in the Czech Republic.
Fuel will be low
The reason for the lack of diesel is understandably the various restrictions associated with the distribution of Russian oil, but other factors also play a role. Energy commodity prices are quite often correlated, and when there are extreme natural gas prices, oil can tend to follow suit.
Although little is said about it, the situation is really serious. For example, the Amsterdam-Rotterdam-Antwerp commercial hub currently has the least amount of oil since 2008. In addition, further restrictions on a certain amount of oil are on the way, which could make the situation even worse.
Of course, such a thing is not good for anyone now, because European countries have their hands full on how to solve the crisis with electricity and gas prices. The fuel isn’t particularly hot right now, but it can change quickly.
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