World's Most-Crucial Fuel Heads for Shortage Touching Everything
Prices for diesel — used to power trucks, fuel machinery and heat homes — have surged about 50% amid shrinking inventories and a strained export market.
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No fuel is more essential to the global economy than diesel. It powers trucks, buses, ships and trains. It drives machinery for construction, manufacturing and farming. It’s burned for heating homes. And with the high price of natural gas, in some places it’s also being used to generate power.
Within the next few months, almost every region on the planet will face the danger of a diesel shortage at a time when supply crunches in nearly all the world’s energy markets have worsened inflation and stifled growth.