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Posted December 3, 2025

Geopolitical developments contribute to elevated diesel prices ›

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Global refinery margins for diesel have widened since late October and increased to their highest level all year, following refinery outages in Russia and in the Middle East and new sanctions on Russia’s crude oil, leading to limited refinery production and a decreased global diesel supply. The impact was most pronounced in the Atlantic Basin, contributing to higher prices at the Amsterdam, Rotterdam, Antwerp (ARA) shipping hub, a key benchmark for European prices, as well as at New York Harbor and the U.S. Gulf Coast. The higher global prices also affected prices in the United States because U.S. refiners can sell into both domestic and international markets.

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Previously in Today in Energy

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• U.S. average gasoline prices this Thanksgiving are about the same as last year
• Natural gas use for electricity in California falls as solar generation rises
• More