Speculators and increasing demand blamed for rise in diesel prices

Market speculators and the winter rise in demand have been blamed for rising diesel prices.

Fuel industry analysts said speculators had bought up stock until prices become more favourable, seen as a good bet because of Europe’s dependence on “unreliable” diesel imports from Russia and Asia and reduced production by European-based refineries.

From the point of view of diesel users, this trend is set to continue due to three European refineries closing this month.