Diesel and Gasoline Prices Surge Amid Ukrainian Conflict

Crude oil may be getting all the attention lately, but it's not the only energy market worth watching. According to recent data, diesel and gasoline futures have seen a year-to-date percentage change that far surpasses crude oil prices. In fact, products derived from petroleum are rising at a much faster rate than petroleum itself.

The primary driver behind this trend is the ongoing conflict in Ukraine, which has led to Russian refineries being damaged by drone strikes. This has resulted in a decrease in global diesel supplies as European and Russian refineries export less to markets worldwide.