# Red Sea worries cause spike in refined fuel prices, but market will adjust

> The gasoil crack, the margin on making diesel and jet fuel at a typical Singapore refinery, jumped 18% on Monday to $25.58 a barrel from $21.68 on Jan. 26. The rise followed Red Sea shipping worries.

- Date: 2024-01-30 · published 2024-01-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/32300-red-sea-worries-cause-spike-in-refined-fuel-prices-but-market-will-adjust
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher refining margins for distillates lift diesel prices, which raises fuel and freight costs for feed ingredient logistics. The market is expected to adjust as supply responds.

## Read by commodity

- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2025-09-24 | [Diesel Traders Bet on Price Spike as Russia Refineries Hit - TT](https://feedsoft.ai/events/23065-diesel-traders-bet-on-price-spike-as-russia-refineries-hit-tt.md) | -0.1% | -5.3% |
| DIESEL | 2026-09-30 | [Oil prices rise by about $1/bbl on stalled US-Iran talks and tight fuel markets - CNA](https://feedsoft.ai/events/17633-oil-prices-rise-by-about-1-bbl-on-stalled-us-iran-talks-and-tight-fuel-markets.md) | -6.2% | -4.4% |
| DIESEL | 2022-02-26 | [Will diesel fuel prices go up with Russia's invasion of Ukraine? \| Commercial Carrier Journal](https://feedsoft.ai/events/42899-will-diesel-fuel-prices-go-up-with-russia-s-invasion-of-ukraine-commercial.md) | +34.3% | +46.0% |
| DIESEL | 2026-03-04 | [Diesel Prices Spike on Iran Conflict Just Ahead of Planting Season - AgWeb](https://feedsoft.ai/events/5534-diesel-prices-spike-on-iran-conflict-just-ahead-of-planting-season-agweb.md) | +6.1% | +30.8% |
| DIESEL | 2022-03-28 | [Cattle market frustrates, but fundamentals are better this spring – The Seam](https://feedsoft.ai/events/7631-cattle-market-frustrates-but-fundamentals-are-better-this-spring-the-seam.md) | -18.2% | +0.1% |
| BRENT | 2026-09-30 | [Oil prices rise by about $1/bbl on stalled US-Iran talks and tight fuel markets - CNA](https://feedsoft.ai/events/17633-oil-prices-rise-by-about-1-bbl-on-stalled-us-iran-talks-and-tight-fuel-markets.md) | +3.9% | +9.5% |
| BRENT | 2022-02-26 | [Will diesel fuel prices go up with Russia's invasion of Ukraine? \| Commercial Carrier Journal](https://feedsoft.ai/events/42899-will-diesel-fuel-prices-go-up-with-russia-s-invasion-of-ukraine-commercial.md) | +23.1% | +23.8% |
| BRENT | 2026-03-31 | [Brace for Worst-Case Scenario as Market Pressures Mount](https://feedsoft.ai/events/20483-brace-for-worst-case-scenario-as-market-pressures-mount.md) | +4.8% | -2.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/red-sea-worries-cause-spike-refined-fuel-prices-market-will-adjust-russell-2024-01-30/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.