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Goldman Sachs advises gasoline over diesel amidst shortages
Goldman Sachs expects gasoline prices to continue rising due to the expanding global fuel supply shortages. The bank shifted its recommendation from diesel to gasoline because the transition by refineries from producing diesel to gasoline is exacerbating the supply deficit and increasing the likelihood of higher prices. This situation is driven by overlapping factors such as the conflict between the United States and Iran and the war between Russia and Ukraine, which have put pressure on fuel markets. Diesel prices have reached record highs in the United States, while demand for gasoline remains relatively stable, with changes in inventories explaining its continued preference. Goldman Sachs recommended purchasing European mid-term gasoline contracts, anticipating that the ongoing rise in diesel prices will further boost gasoline prices.
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