Diesel prices in global markets have reached their highest level, and this significant increase is due to the war between the United States and the Israeli regime against Iran, military conflicts between Russia and Ukraine, and also the reduction of exports by the largest diesel producers in the world, including Russia, Saudi Arabia, and the United Arab Emirates.
Price Records in Europe and America
According to reports, diesel prices in Europe have more than doubled compared to early 2026. This increase follows supply disruptions to the Red Sea, a major loading point for Saudi diesel. Military conflicts in these areas have damaged refineries and caused refineries in other parts of the world to operate at maximum capacity. The International Energy Agency has also announced that U.S. refineries operated at their highest capacity in eight years at the end of August.
Read more: LNG Price Drops in Rotterdam to $1,488 per Ton
Decline in Middle Eastern Diesel Exports
Data from ship tracking company Kpler shows that the average diesel exports from Middle Eastern producers from March to August have decreased by 50% to 800,000 barrels per day compared to the same period last year. The Middle East supplied about 41% of Europe's diesel imports in 2025. George Shaw, an analyst at Kpler, noted that any further disruptions in supply from the Red Sea will put more pressure on the global diesel market.
The decline in diesel production from Russian refineries due to Ukrainian drone attacks has led to a ban on diesel exports from this country since July. Russia, as the second-largest diesel exporter in the world, previously exported significant amounts to Turkey and Brazil. Meanwhile, diesel storage in Europe at the key refining and storage hub of Amsterdam-Rotterdam-Antwerp reached its lowest level for this time of year on September 10.
The average retail price of diesel in the U.S. exceeded $6 per gallon for the first time in September. Despite refineries operating at maximum capacity, the country's storage levels remain below normal. Additionally, diesel prices in the Asian market are rising due to supply disruptions from Middle Eastern and Russian producers.
Read more: Severe Revision in VLCC Market in 2026 · J.P. Morgan Declares Oil Market Outlook Uncertain
