The diesel crisis lies dormant. While prices have dropped from a March spike, record-low stocks, demand expected from the onset of winter, and the threat of a drop off in Russian supplies could all cause prices to erupt. Diesel prices may have fallen some 25% since hitting a record high March 8 amid growing demand destruction as the global economy creaks, inflation spirals, and Russian oil flows keep coming. But diesel prices remain at elevated levels, including the important ultra-low sulfur diesel benchmark. S&P Global Platts assessed the key ULSD 10ppmS FOB ARA price at $1,079.75/mt on Aug. 18 compared to a peak of $1,466.50/mt, but this is still significantly higher than the $686/mt price seen at the start of the year and before the outbreak of the Russia-Ukraine war . And there are credible reasons to think these high prices could continue. Low stocks Diesel stocks in Europe, […]