Diesel Prices Reach €2.22 Due to Middle East Conflict

Diesel and gasoline prices have risen by about 7% each, due to a decrease in crude supply linked to the conflict between the United States and Iran. The market has tightened since mid-July, following a period of stability after a sharp decline in June. Hostilities in the Middle East and concerns regarding the security of maritime supplies have exacerbated the situation. Prices for unleaded gasoline are expected to decrease in August, while diesel is projected to rise slightly. The euro-dollar parity, which was at 1.1422 in July, has dropped by 1.3% compared to the previous month, mechanically increasing the price of oil for Europeans. Since August 1, the average price of a liter of diesel has been around €2.22, while unleaded 95-E10 is priced at €2 per liter. Donald Trump's contradictory statements about Iran have less impact than before.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.