Refined petroleum prices have surged globally, climbing at a faster pace than crude oil

Refined petroleum prices have surged globally, climbing at a faster pace than crude oil. Diesel hit a high of USD 171/bbl during the week and petrol reached USD 157/bbl, while Brent crude increased above USD 120/bbl.

Lower refinery capacity globally has been the primary reason for the rise, while production has ramped up to keep up with the increase in demand.

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