Inflation to fall dramatically?

peemac

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Diesel probably be going up in price due to price caps on refined oil products from Russia, they reckon that the diesel will be transported to India and then re exported to Europe at higher price due to the increased transportation costs and margin, the idea is to deny Russia the increased revenue even if it means Europe ultimately pays more .
The only good thing is it might scupper the governments plan to reverse the reduction in excise on diesel and petrol in february, if diesel is going back up in price it will be very difficult for the government to increase the excise taxes again
A large number of refineries have reopened in India and China and also the eastern seaboard of USA.
Russian diesel is now a trickle and refinery margins are circa $40+ ( historically $10 or less)

I don't think we see much change
 
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