Record-high bunker prices are pushing transport costs higher, and in turn, impacting the costs of goods and services across the globe. The overall rebound in demand for fuels as economies return to normal after lockdowns is creating a tight market. Refiners are prioritizing gasoline and diesel production over bunker fuel because of strong demand. Bunker prices are on the rise. This is not news in itself: it would have been surprising if the price of one oil derivative was down when the prices of all others were up. Yet it is becoming a cause for concern as higher bunker costs push maritime transport costs higher. With much of global trade relying precisely on maritime transport, higher prices are adding to already substantial inflationary pressures. And there doesn’t seem to be light at the end of this tunnel. Bunker prices climbed close to a record high earlier this month, with […]