No cheaper diesel for European hauliers

According to the European Commission’s Weekly Oil Bulletin, the average price of diesel in the EU on 26 October was €2.146 per litre, up 0.7 cents on the week. It was the second weekly increase in a row.

Russia has extended its ban on diesel exports by producers until 31 January 2027. At the same time, it is letting selected companies sell more abroad: Russian diesel exports to world markets should reach 2.15 million tonnes in November, more than four times October’s volume. For European hauliers, however, this is unlikely to bring quick relief at the pump.

The extra volumes follow a Russia–US agreement, and the first tankers are heading to the US East Coast. The EU has banned imports of Russian oil products since 2023, so the effect on European prices can only be indirect.

The International Energy Agency has already warned that the diesel supply squeeze may last well into 2027. At the same time, EU crisis support for transport companies is coming to an end, and cheap diesel is not expected next year.

Source: trans.info