European diesel costs more than jet fuel for the first time in over a year. Jet fuel imports to Europe have risen significantly while diesel imports have dropped. Global diesel supply tightened further after Russia banned its exports. This price shift reflects ongoing supply challenges and demand dynamics. Analysts note persistent scarcity pricing risks for diesel heading into winter.

Europe is especially vulnerable, with refinery closures, depleted inventories, and reduced access to Russian-linked fuels pushing diesel prices up 40% since mid-June.

Oil product disruptions drive sharp diesel price rally across US and European markets