February 2, 2023

Wire Service Canada

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With the impact of the sanctions, further diesel increases are expected. The excise case is scheduled to be repeated again and already in February

For diesel, the worst is probably yet to come. It is expected that the problem of excise duty will become hotter than it is now. Unlike gasoline, which is mostly used by cars, diesel is the fuel that “moves the world.” Besides cars It operates in trucks, industrial and agricultural machinery as well as other means of transportation. Starting in February Western embargo on Russia will stretch for refined petroleum products Among them, in fact, is diesel, of which Moscow was and remains one great resource. The ban will make it difficult to get Russian diesel fuel into Europe and Italy without draining the flows. It is likely, as is already happening to some extent now, that Russian oil It is sent to countries like India Here’s a repeater to charge afterwards “Clean” diesel fuel in Western marketsWith the consequent increase in costs. It is also likely that we will resort to more borderline practices such as Mixing diesel from various sources in regions outside the European Union (the system already used in recent months by some carriers) to disguise the Russian component. Moscow can also count on a fleet of ghost ships, which are not owned by Russia and which can be used to circumvent the ban. The truth is according to what the agency writes bloomberg, The European Union will have to replace approx 600 thousand barrels per day of diesel imported from Russia. The ban, however, will not be without suffering for the Kremlin Estimates of effects are somewhat uncertain. Some analysts believe Moscow will have to redirect up to two-thirds of its diesel exports.

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However, it is also the companies that have to find alternative supplies european refineries, German types, which had hitherto been very dependent on Russian supplies. The blockade also falls on Sector under pressure for some time Also because of the low investment. Politics and finance drive everyone Towards the development of renewable energy sources This causes producers to be reluctant to participate in the development of new refining capacity. The other unknowns The price of the raw material, Oil, also linked to the prospects for global economic growth that determines the demand for it. In the past two and a half months the cost of crude oil decreased 15% From just under $100 to $85 per barrel. This lineage has been translated On the industrial component of the cost of petrol and diesel, Which in turn decreased (although the benefit for motorists was completely wiped out by the flood Re-imposition of the excise duty decided by the Meloni government). But only last July, the barrel was traded at a level $110 Above all, if the economic slowdown turns out to be less pronounced than expected, it is not impossible that prices will start to rise again. In an interview given to Corriere della Sera President of Nomisma Energia (a study center not far from the oil industry, so) David Tapparelli He mentioned that “fuel prices Today they are very low. I don’t dare think about what might happen when the price of oil goes up, I’m afraid. I expected It amounted to 2.6 euros per liter. Instead, the price of crude oil remains low and so the increases have been mitigated without cutting production charges.”

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Russia, in 2022, recorded revenues (16.7 billion) from the sale of fertilizers. Purchases from India, Turkey and Vietnam are increasing

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