The price of diesel in the US reached a new record today, exceeding the threshold of $ 6 per gallon (3.78 liters) for the first time, Agence France-Presse reported, BTA reported.
According to the American Automobile Association (AAA), the price of a gallon of diesel today is moving on average around $ 6.06, for the first time passing this symbolic threshold.
On world markets, oil continues to rise in price, pushed up by the war in the Middle East and the attacks of Ukraine on Russian refineries.
The price of North American WTI rose by 0.58 percent to $ 103.07 per barrel after a rise of 6.7 percent yesterday.
Black gold prices now appear to be firmly anchored above the $100 threshold – the highest level since May, which puts pressure on drivers' budgets and the economy as a whole.
The International Energy Agency (IEA) does not expect the situation with oil demand to normalize before 2027, and shipping through the Strait of Hormuz will remain limited throughout 2026. This is stated in the agency's monthly report on the state of the oil market, published today and quoted by world agencies, BTA reported.
“Given that the conflict continues, we assume that the normalization of the situation, which, as we previously expected, was to occur in the second half of 2026, will be postponed until 2027, and shipping through the Strait of Hormuz will remain limited throughout 2026“, the document states.
The IEA notes that the expected recovery in 2027 will lead to an increase in demand to 105 million barrels of oil per day, which will only partially compensate for the losses of 2026.
According to the IEA's assessment, the decline in oil demand this year will be comparable to the other four crises that have occurred in the world over the past 60 years. These are the crises of 1973 and 1979, the global financial crisis of 2007-2008 and the coronavirus pandemic. According to IEA experts, previous declines in demand of this magnitude have invariably been followed by long periods of recovery and structural changes.
“Thus, our forecast for a rapid and full recovery of the global economy next year with a slight sustained decline in demand may be significantly lowered“, the report adds.
The IEA lowered its forecast to now expect a 2.5 million barrel per day (mbpd) decline in demand year-on-year, compared to a 1.6 million bpd decline in its previous forecast in August. Global oil consumption in 2026 is expected to reach 1.1 million bpd, up from 1.1 million bpd forecast last month.