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Politics · Important news for 12 August 2026

Politics

Global diesel market faces severe supply squeeze

Axios

Geopolitical conflicts and refinery reductions are tightening global diesel supplies, driving up prices across economies.

  • Global diesel supply is constrained by geopolitical conflicts and lower refinery runs.
  • US average diesel price reached $5.32 per gallon, up 44 cents over the past month.
  • Refineries worldwide processed 7.5 million barrels per day less crude last month.

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