The New York Times revealed that diesel has become a larger global economic crisis than gasoline, amid the consequences of the war between the United States and Israel on one side and Iran on the other, which has led to severe disruptions in global oil supplies.

According to the report, diesel prices have risen faster than gasoline since the outbreak of the war, increasing by about 45 percent compared to 35 percent for gasoline, amid expectations that prices will exceed 5.80 dollars per gallon this month, while the average price of gasoline is around 4.30 dollars.

Port of Los Angeles

This increase is attributed to the limited global supply of diesel even before the war, which made markets more fragile when exports from Gulf countries declined. These countries are among the most important producers of this type of fuel, especially since a large share of their oil is allocated to producing diesel and jet fuel.

The report noted that countries such as China have reduced fuel exports in order to secure their domestic needs, while other countries do not have sufficient capacity to compensate for the shortage, despite increased exports from the United States.

The severity of the crisis lies in the fact that diesel is considered a backbone of the global economy, as it is relied upon by trucks, heavy machinery, and agriculture, unlike gasoline, which consumers can reduce their use of more easily.

The report warned that a return of prices to previous levels could take a long time, even if tensions decrease, due to the scale of disruption in supply chains and the difficulty of quickly compensating for the shortage.