The global surge in the cost of fuel is starting to weigh on demand, according to the world’s biggest independent oil trader.
Consumers are being hit by the run-up in gasoline, diesel and other oil products, Mike Muller, head of Asia at Vitol Group, said Sunday on a podcast produced by Dubai-based Gulf Intelligence.
“There’s very clear evidence out there of economic stress being caused by the high prices, what some people refer to as demand destruction,” said Muller, who’s based in Singapore. It’s “not just oil, but also liquefied natural gas.”
