I live in California. As of last night, I saw gas prices the highest in my life. $5.99 for the normal stuff and $6.99 for diesel. If this isn't resolved soon... I can only imagine what will happen next.
Those gas prices shown at the pumps are merely one barometer, a stress-level indicator. The realities around the world are probably much more dire.
Elevated diesel prices for a long enough time (when the current fuel delivery contracts expire) will hit every supply chain for everything everywhere. If shortages persist then not even the raw materials like LPG and naphtha will be available which will mean that a lot of products can’t even be produced.
I live in California. As of last night, I saw gas prices the highest in my life. $5.99 for the normal stuff and $6.99 for diesel. If this isn't resolved soon... I can only imagine what will happen next.
Those gas prices shown at the pumps are merely one barometer, a stress-level indicator. The realities around the world are probably much more dire.
Elevated diesel prices for a long enough time (when the current fuel delivery contracts expire) will hit every supply chain for everything everywhere. If shortages persist then not even the raw materials like LPG and naphtha will be available which will mean that a lot of products can’t even be produced.
No doubt. I believe the Philippines is currently in a state of emergency due to the lack of oil. They need it for energy.