Shell CEO Warns There’s Not Enough Gasoline And Diesel

This is concerning.

CEO of Shell Wael Sawan has warned there is a shortage of gasoline and diesel.

Sawan in an interview with CNBC shared that since the beginning of the Iran War refineries have maximized production of jet fuel due to the fact it has tripled in price since the beginning of the conflict.

However, Sawan noted this pivot comes at a cost.

The cost is there is now a shortage of gasoline and diesel.

The Street explained the predicament shared by Sawan:

When the Iran war disrupted Middle Eastern jet fuel exports, aviation fuel prices spiked. Refineries globally, including Shell’s, responded rationally to market signals. They maximized production of the highest-priced product.
Shell increased its jet fuel production by approximately 20% in response to that price signal, according to Sawan‘s remarks.

That 20% jet fuel addition came at a direct cost. Refinery units running at maximum throughput allocate barrel inputs across competing product streams. More jet fuel output means less diesel and gasoline from the same barrel of crude.

As the jet fuel shortage eased and aviation activity normalized, the diesel and gasoline deficit that accumulated during the pivot is now showing up in product-market signals.

“The price signals are that we are short on diesel and gasoline,” Sawan said. Remember, that is a CEO with real-time visibility into global product markets telling investors and viewers that the next leg of fuel-cost pressure may arrive at the pump, not the aircraft gate.

Health Ranger on X warned Americans to be prepared for the worst:

Prepare for Dieselgeddon.

Shell CEO Wael Sawan just warned there's not enough diesel to go around for much longer.

And refineries are being pushed beyond 100% capacity (seriously) by delaying critical maintenance.

This raises the risk of explosions. Those are sometimes fatal,…

— HealthRanger (@HealthRanger) August 3, 2026

Full text:

Prepare for Dieselgeddon. Shell CEO Wael Sawan just warned there’s not enough diesel to go around for much longer. And refineries are being pushed beyond 100% capacity (seriously) by delaying critical maintenance. This raises the risk of explosions.

ADVERTISEMENT

Those are sometimes fatal, too. “Ka-boom” is not a maintenance strategy. It also means that starting soon, a lot of refineries in the U.S. are going to have to be taken offline to catch up on necessary maintenance. And that’s going to throw another disruption into the diesel supply chain. Hope y’all have some diesel stored up!

The more, the better. It’s going to become incredibly valuable later this year.

As the conflict with Iran continues to drag out, President Trump appears to want to put the final nail in the coffin.

Here was Trump today discussing what his next move in Iran might be:

Trump: "This is their last chance to make a deal before decapitation." pic.twitter.com/PIZx41MbaG

— Open Source Intel (@Osint613) August 3, 2026

Yahoo News reported Chevron CEO Mike Wirth is also concerned about the oil industry:

Chevron CEO Mike Wirth warned of “very real” dangers for the global oil industry as tensions escalate in Iran and Houthi attacks on Saudi oil facilities fuel concerns over a potential new shipping crisis.

His comments come as oil prices climb following President Donald Trump’s pause on U.S. strikes against Iran and as Saudi Arabia reportedly builds an international coalition to protect vital shipping routes.

ADVERTISEMENT

“We now see, not only the Strait of Hormuz, but the Red Sea and the Black Sea have risks and uncertainties. So, some of the challenges have expanded, and the risks to supply are very real,” Wirth said during an appearance on “Sunday Morning Futures.”

While oil demand remains strong around the world, Wirth said energy markets are “fragile and uncertain” as the U.S. conflict with Iran festers into a sixth month and as global inventories continue to decline.