Diesel prices are surging as global supplies tighten raising costs for transport, farming and industry and threatening to push inflation even higher.
Russia, normally the world’s second-largest diesel exporter, has extended restrictions on exports until the end of October. Meanwhile, despite the US being the world’s biggest diesel exporter diesel prices have hit record highs in the United States.
The White House has reportedly been discussing a possible diesel export ban as President Donald Trump seeks ways to bring down prices at home. But could keeping more US diesel inside the country actually work?
DW speaks to George Shaw, Senior Analyst at global trade intelligence firm Kpler, about what’s driving the diesel supply crunch, why diesel matters so much to the wider economy, the limits facing US refineries and the potential consequences of restricting exports.
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