Diesel is set to rise further

Diesel is set to rise further.

Why?  Oil is selling for 15% more today than January 1 and is predicted to go to $100.  This from the WallStreet Journal:



But it could get a lot worse… if Russia invades Ukraine, then say goodbye to Russian oil for the free world.  Russia is a BIG exporter and one of the biggest producers at 10-11 MM barrels per day - about the same as the US. Russia could ship oil to China in new pipelines under construction - so the impact may mean a realignment of sourcing rather than a complete shut-off.  Angola, Nigeria and Iraq have production problems, OPEC is struggling today and the US isn’t producing what it did pre-pandemic.