Diesel prices will spike due to IMO 2020


Published by iTrucker at 21 Aug

Diesel prices will spike due to IMO 2020

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“In anticipating the price impact on diesel prices from the launch of IMO 2020 on January 1 – with any impacts expected to start before that – most forecasters have been fairly moderate in their outlook, with some exceptions.

But Fitch Solutions, a unit of Fitch Group, recently came out with its forecast. Prominent in the title is the ‘S’ word – spike.

“Diesel: Tighter Shipping Rules to Lead Large Price Spike in 2020” is the title of the report.

The report as a whole sees the oil market in the next few years as having adequate diesel capacity in general. But it’s the short-term that is of concern to the trucking and transport sector and Fitch’s outlook is stark.

“Fuel switching due to IMO 2020 will drive a large and sudden shift in demand for diesel in shipping, and a significant mismatch between supply and demand, and in turn price volatility appears inevitable during its early stages,” the report said.” – According to the article in the freightwaves.com and its author John Kingston

Read the full story HERE

Source and credits:  freightwaves.com /John Kingston and Mario Pawlowski / iTrucker


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