Diesel prices surge past $2.30 per litre in Canada as global supply crisis deepens. The war in Iran has closed the Strait of Hormuz, blocking 13 million barrels of oil daily through one of the world's most critical shipping routes. With tankers that left before the conflict just beginning to arrive at destinations, fuel shortages loom in coming weeks. Refined diesel is trading at unprecedented $200 per barrel levels. China's export ban on refined products compounds the crisis, forcing regions like California to scramble for alternatives. Industry analysts call this situation unprecedented in the oil market. The transportation sector faces mounting pressure as diesel costs threaten supply chains globally and consumer wallets face continued strain from soaring fuel expenses.
