Fuel prices rose to four months ' high due to increased supply constraints

ON 1 SEPTEMBER, AS THE WAR IN THE MIDDLE EAST AND UKRAINE LED TO ANOTHER ATTACK ON THE REFINERY, THE PRICE OF DIESEL WAS FURTHER TIGHTENED, REACHING ITS HIGHEST LEVEL IN MORE THAN FOUR MONTHS, EXACERBATING CONCERNS ABOUT INFLATION AND PLACING BROADER PRESSURE ON BASIC COMMODITY PRICES. THE PRICE OF DIESEL FUTURES ON THE INTERCONTINENTAL EXCHANGE (ICE) ROSE BY 4.2 PER CENT TO ITS HIGHEST LEVEL SINCE 9 APRIL. THE CRACK PRICE DIFFERENTIAL (THE DIFFERENCE BETWEEN DIESEL AND BRENT CRUDE OIL) REMAINED HIGH, RISING TO A RECORD HIGH LAST MONTH. IN ADDITION, THE PRICE OF DIESEL IN EUROPE HAS CONTINUED TO RISE, AND THE GAP WITH ASIAN DIESEL PRICES HAS WIDENED. DIESEL PRICES HAVE RISEN BY MORE THAN 50 PER CENT SINCE THE LOW POINT OF 18 JUNE, EXCEEDING THE INCREASE IN CRUDE OIL PRICES DURING THE SAME PERIOD。