EU diesel supply stable as prices stay high

The European Commission convened the Energy Union security task force on October 2 to discuss diesel-market conditions and their effect on prices with member states. According to the Commission announcement, EU diesel supply is currently stable, but prices remain high because of tight global supply.

The International Energy Agency briefed participants on the collective oil-stock release launched in March. The Commission did not announce a new stock release or new obligations for member states. Participants agreed to continue exchanging information and coordinating action.

For Hungary, the development matters through freight, agriculture and retailers' distribution costs. Stable European inventories reduce the immediate risk of a physical shortage, yet high wholesale prices can still feed into logistics charges and consumer prices. The next verifiable development would be a new Commission measure or a change to the collective stock programme.

For context, see the EU barometer tracking Chinese imports and China's anti-dumping investigation into an EU chemical.