The conflict in Ukraine and the events in Iran had a significant impact on shipping in the Black Sea and contributed to the increase in biofuel prices. At the end of September 2026, the cost of biodiesel reached 1,965 dollars per ton, which exceeded the records of 2007, when the price of oil stood at 140 dollars per barrel. Since spring 2026, biofuel prices have increased by about 40%. This growth is driven in part by higher prices for grains, especially corn, which is used to produce biofuel. It should also be noted that the cost of processed vegetable oil, such as oil used for restaurants, has increased by 20%, and this raw material is actively used in Europe to create biodiesel. In addition, biodiesel and bioethanol producers try to set prices similar to those of traditional fuels, which also contributes to the increase in their cost.

The conflict in Ukraine and the events in Iran had a significant impact on shipping in the Black Sea and contributed to the increase in biofuel prices. At the end of September 2026, the cost of biodiesel reached 1,965 dollars per ton, which exceeded the records of 2007, when the price of oil stood at 140 dollars per barrel. Since spring 2026, biofuel prices have increased by about 40%. This growth is driven in part by higher prices for grains, especially corn, which is used to produce biofuel. It should also be noted that the cost of processed vegetable oil, such as oil used for restaurants, has increased by 20%, and this raw material is actively used in Europe to create biodiesel. In addition, biodiesel and bioethanol producers try to set prices similar to those of traditional fuels, which also contributes to the increase in their cost.