Short version: diesel swims in a different pond to unleaded, and the crocodiles are hungry.
Global demand from trucks, ships and industry stays high, while refinery capacity and distillate inventories haven’t kept up, so the crack spread (refining margin) widens.
Sanctions and shipping reshuffles cut easy flows from places like Russia, and northern‑hemisphere winters compete for the same fuel.
Here in Australia, a soggy AUD versus USD, fuel excise and GST stack on top, plus regional transport costs, so bowser boards look grumpy.
Unlike petrol, diesel rarely does the dramatic weekly price cycle, so drops are slower and rises linger like a bad cologne.
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