Fatih Birol, director general of the International Energy Agency (IEA), warned that once people start taking vacations this summer, the United States and Europe may face fuel shortages, and Europe will be particularly hit "When the major holiday seasons in Europe and the United States begin, fuel demand will rise. Then we may see a shortage of diesel, gasoline or kerosene, especially in Europe," Birol said in an interview on Tuesday
Birol also said that the current energy crisis will be more serious and lasting than the oil price shock in the 1970s, because it has exerted pressure in three aspects.
"That crisis was just about oil, and now we are facing an oil crisis, a gas crisis and an electricity crisis at the same time," he said
Now, oil, gas and electricity prices are soaring on both sides of the Atlantic, leading to a cost of living crisis.
Fuel shortages are more likely to occur in the summer because people drive more when they go on holiday. Birol said this could push up oil prices in the coming months.
According to the data of the American Automobile Association (AAA), gasoline prices in the United States have hit record levels in recent weeks. On Memorial Day, the average oil price in the United States was $4.62 per gallon.
At the same time, according to the data of the environmental investigation agency, the average price of electricity in the United States has increased by 6.1% in the past year.
On Tuesday, after the European Union agreed to ban most oil imports from Russia, the international crude oil trading price reached a two-month high.