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The Economic Times
The Economic Times
Business
Anupam Nagar

Global Market: Diesel prices surge to record highs as wars squeeze global fuel supplies

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Diesel prices in Europe and the United States have surged to record levels as disruptions linked to the wars in Iran and Ukraine curb exports from major producers and leave global refineries with limited spare capacity, Reuters reported.

European diesel futures closed at an all-time high last week, more than doubling from the start of 2026. Supply disruptions have also spread to the Red Sea, a key region for Saudi Arabia's diesel exports.

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