Winter fuel disruptions are expected across the EU after an embargo on Russian oil comes into force, moments after terrorists blew up the Russian gas pipeline to Europe.
Diesel prices in the European Union and the USA are showing their sharpest increase in months, adding to inflationary pressures and heightening the risk of a global recession, Bloomberg reported on Wednesday.
Earlier this week, Europe’s benchmark diesel price approached $180 a barrel. In the USA, prices in California exceeded $190, while in New York Harbor they were close to $170.
The spike in diesel prices is driving inflation ahead of winter and raising the prospect of supply disruptions, particularly in the EU, which will start enforcing its embargo on Russian oil and petrochemicals in February 2023.
Year-long strikes, now at French refineries, which have halted fuel supplies and led to diesel shortages, are another factor driving up prices.
French authorities warned they would be forced to intervene if energy industry workers refused to end their strikes, which have left almost a third of the country’s fuel stations short of supplies.
Analysts warned that the looming EU embargo on Russian oil would continue to inflate diesel prices across the bloc.
Currently more than a third of the fuel keeps arriving from Russia, but when the ban comes into force, the EU will have to replace Russian diesel either by ramping up its own production or importing from countries such as Saudi Arabia, India or the US at a much higher price.
RT. com / ABC Flash Point EU News 2022.
If the system broke already when people were paid next to nothing and prices were already overly inflated because of greed do you honestly think that a shift where things will costs an order of magnitude more is going to survive? You think people will be compensated proportionately? The trend over the last 50 years has shown that the pay scales have been severely tipped to the elites because they have the thumb on the scales.
HAHAHAHAHA it really sounds backward, funny, and somewhat redundant…
Fuel disruptions are expected in the EU after the EU imposed embargo on Russian oil… EU to EU
Well, what did you expect? You still did not take Stalingrad and the way to Caucasus. 😉
We live in a huge mental asylum?
As America still rules and controls the west and America has the worlds highest number of drug takers-official prescription or illegal for mental problems and the worlds biggest navel gazers –if you live in the west you are heavily influenced by madness, so never a truer word Vstanka.
Just look what happened to Alex Jones in the USA, now he, as an reporter has to pay the victims nearly $1 billion to cover for the mass crime committed?