Can anyone speak to the long term impacts of this? Like is gas going to remain high for years (or even worse get rationed) and I should trade in for an EV now?
The main point of news I heard was that the Iran infrastructure the US destroyed, in a time where they are allowed to repair it and not just get bombed again, will take three years to repair. Oil prices don't get "cheap" again this side of 2030. Not to mention that there is a bunch of Russian infrastructure that is still on the chopping block to be destroyed by Ukraine as that war continues. Which has the same time it takes to rebuild issues.
All the petrol processed in the world is consumed virtually on the spot, take down any production capacity anywhere and you'll create all kind of nasty side effects, now take down multiple major actors/transport roads and you get the current situation
That's not a source. And it also directly contradicts your assertion.
Petroleum products are refined and consumed near the point of use because they're not very shelf stable. Petrol is not shipped internationally in any significant quantity, neither is diesel for these reasons.
Take down any production capacity anywhere and you'll have shortages locally but crude oil supplies will divert to other refining capacity and fall in price.
It's still a global trade. Russia - India trade is directly affected, so that affects the supply of diesel out of India for those who normally buy from India. So they buy from somebody else. And so on down the line.
Diesel is shelf stable for 6-12 months, which is long enough to ship anywhere in the world.
It does. Oil export is down after repeated attacks on ports and export infrastructure both on Black and Baltic sea and attacks on tankers in Black (and even Mediterranean) sea. Russia exports less oil than it extracts and will start shutting down oil wells soon (may be doing this already).
Attacks on refineries also have impact on worlds petrol/diesel prices - one of biggest exporters turned into an importer at a time when there is world shortage of refining capacity and cracks spread is at or near all time high.
> It also limits their ability to fund the war.
It does but it also makes petrol and diesel more expensive around the world.
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XorNot · · focus · HN ↗
The Russians are losing refineries, not oil fields.
The Russian crude trade to countries like India pushes the price down globally, but limits Russian access to refined fuels and products.
It also limits their ability to fund the war.
bryanlarsen · · focus · HN ↗
pbkompasz · · focus · HN ↗
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toasty228 · · focus · HN ↗
XorNot · · focus · HN ↗
Petroleum products are refined and consumed near the point of use because they're not very shelf stable. Petrol is not shipped internationally in any significant quantity, neither is diesel for these reasons.
Take down any production capacity anywhere and you'll have shortages locally but crude oil supplies will divert to other refining capacity and fall in price.
Conversely take down crude oil supply...
bryanlarsen · · focus · HN ↗
Diesel is shelf stable for 6-12 months, which is long enough to ship anywhere in the world.
MarkusQ · · focus · HN ↗
<a href="https://www.reuters.com/business/energy/russia-extends-diesel-gasoline-export-bans-until-end-january-2027-2026-07-30/" rel="nofollow">https://www.reuters.com/business/energy/russia-extends-diese...
citrin_ru · · focus · HN ↗
Attacks on refineries also have impact on worlds petrol/diesel prices - one of biggest exporters turned into an importer at a time when there is world shortage of refining capacity and cracks spread is at or near all time high.
> It also limits their ability to fund the war.
It does but it also makes petrol and diesel more expensive around the world.