Profits from using crude oil to produce diesel in the US have soared to more than $100 per barrel, setting a new record high. At the same time, the shortage of global refining capacity continues to exacerbate the rise in fuel prices. This much-watched indicator — the diesel cracking price spread — hovered around $100 per barrel on Tuesday, down slightly from the previous all-time high of more than $102 per barrel. The spread closed at the three-digit level for the first time on Monday. Until then, the indicator had never surpassed $89 per barrel. The previous historical record was set in October 2022, when the world was facing fuel shortages before entering the first winter of the Russian-Ukrainian conflict.

Profits from using crude oil to produce diesel in the US have soared to more than $100 per barrel, setting a new record high. At the same time, the shortage of global refining capacity continues to exacerbate the rise in fuel prices. This much-watched indicator — the diesel cracking price spread — hovered around $100 per barrel on Tuesday, down slightly from the previous all-time high of more than $102 per barrel. The spread closed at the three-digit level for the first time on Monday. Until then, the indicator had never surpassed $89 per barrel. The previous historical record was set in October 2022, when the world was facing fuel shortages before entering the first winter of the Russian-Ukrainian conflict.