Commodities
Home›Commodities›Energy›Diesel prices stay elevated despite crude oil pullback…
Diesel prices stay elevated despite crude oil pullback, IEA says
The IEA data show diesel near $1.94 per liter in tracked countries, about 14% higher than February before the Iran-related escalation.
Oil market volatility tied to the U.S.-Israel conflict with Iran is still showing up in refined product prices, with diesel remaining significantly higher even as crude has eased, according to IEA figures summarized by OilPrice.
OilPrice reports the IEA’s monthly end-use price tracker, updated Aug. 7 and covering prices through July, places the average automotive diesel cost near $1.94 per liter in U.S. dollar terms, about 14% above where it was in February.
The outlet says gasoline has followed a calmer pattern, with average pump prices peaking in May near $1.99 per liter and then easing to about $1.90, roughly flat month over month.
OilPrice attributes the diesel price gap to disruption beginning Feb. 28, when strikes triggered a war and sent Brent crude from about $72 a barrel to nearly $120 within weeks, alongside near-stoppages in tanker traffic through the Strait of Hormuz after insurers pulled coverage.
Latest closeWTI crude $82.30 ▲5.3%|Brent $87.85 ▲5.2%|Gasoline (RBOB) $2.868 ▼3.9%