Road fuels
Overview
Fuels for road transportation continue to drive the refining industry. But gasoline and diesel are coming under increasing pressure from low-carbon targets being implemented around the world.
Global oversupply, new regulatory measures and rapidly increasing competition for export markets are affecting refining margins. The need for accurate insight and data is more critical than ever.
Argus road fuels coverage includes price assessments and key insights into both conventional fuels - gasoline, distillates and blending components – as well as biofuels, in each key region. Our trusted prices are delivered alongside the latest market-moving news, in-depth analysis, supply and demand dynamics, price forecasts and forward curves data.
Latest road fuels news
Browse the latest market moving news on the global road fuels industry.
Doubts abound over US midcon E15 shift: NATSO
Doubts abound over US midcon E15 shift: NATSO
Houston, 7 May (Argus) — An effort by eight US midcontinent states to start selling 15pc ethanol (E15) gasoline blends year-round starting in 2025 remains unlikely, according to US fuel retailer trade association NATSO. The US approved last month the request from Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota and Wisconsin for year-round E15 gasoline sales starting next year. But even with that approval there are many barriers to making those sales a reality, said David Fialkov vice president of government affairs for NATSO, which represents truck stops and travel center operators. This includes a lack of investment from pipelines and refiners to prepare for the changes, as well as the higher costs of separating and selling different gasoline specifications at the retail level. "I remain pessimistic that it will come to fruition," Fialkov said Tuesday at a conference held by fuel retail industry group SIGMA in Austin, Texas. Political pressure to delay or abate the change in the midcontinent states will probably continue until refiners, pipeline companies and retailers begin to make the investments necessary, said Fialkov. E15 has been available for sale across the US since 2019, but a federal court in 2021 found that the Clean Air Act offers a fuel volatility waiver to refiners to produce only 10pc ethanol gasoline. The Environmental Protection Agency (EPA) has worked around this ruling for the last two summers by issuing temporary emergency orders allowing the sale of E15 because of the war in Ukraine's squeeze on crude prices. A group of midcontinent refiners has petitioned the EPA to delay implementation of the E15 rule until the summer of 2026. The EPA has not yet ruled on the request. Fialkov said a legislative solution to the issue at the federal level would provide a clear and uniform pathway to E15, as opposed to the the EPA's rule which leaves some states still relying on the waiver and others opting to go with year-round E15. By Zach Appel Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Brazil lowers biofuel mix in flooded state
Brazil lowers biofuel mix in flooded state
Sao Paulo, 6 May (Argus) — Brazil's oil regulator ANP temporarily decreased the mandatory mix of ethanol and biodiesel in fuels in Rio Grande do Sul state for 30 days, starting on 3 May, amid floods in the region. The anhydrous ethanol blend on gasoline was lowered to 21pc from the current 27pc, while the mandatory biodiesel mix for 10ppm (S10) diesel is now at 2pc, down from the usual 14pc. The agency also temporarily suspended the blending mandate for diesel with 500ppm of sulfur (S500). ANP said it can revise deadlines depending on supply conditions in the state. Rainfall in Rio Grande do Sul blocked railways and highways where biofuels are transported to retail hubs, such as Esteio and Canoas. Supply of fossil fuels via pipeline from the 201,000 b/d Alberto Pasqualini refinery (Refap), in Canoas, and other retail bases has not been compromised, ANP said. Floods in Rio Grande do Sul have left at least 83 dead and 111 missing, according to the state government. More than 23,000 people have been forced from of their homes amid widespread damage. Over 330 cities are in a situation of public calamity. By Laura Guedes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
North Germany sees May holiday gasoline surge
North Germany sees May holiday gasoline surge
Hamburg, 6 May (Argus) — Driving activity in Germany increased around the public holiday on 1 May, leading to a rise in regional demand for fuels, particularly gasoline, in the past week. Oversupply of diesel is also pressuring premiums in Europe. Daily volumes of diesel and E5 gasoline reported to Argus this week were higher than the average for the current year. Demand for gasoline in the North region notably increased, with reported volumes in the past week reaching the highest daily average in 2024. The filling station sector is almost entirely responsible for the increased demand, market participants said. Many end-users took Monday and Tuesday off as additional holidays, leading up to 1 May. This resulted in a temporary increase in travel activity. In anticipation of this, filling station operators stocked up on fuel. But compared with previous years, overall demand for diesel in Germany remains weak. Coupled with plenty supply of diesel on the international market, this has led to premiums of cif Hamburg in April reaching their lowest level since July 2023. In the face of oversupply the difference between cif Hamburg diesel and cif ARA assessment fell further as well over the past week. The volume of diesel imported to northern Germany increased by 18pc in April compared with March, reaching around 71,000 b/d, data from Vortexa show. The low premiums of the diesel cif assessments, along with the ICE Gasoil Future's contango — which has encouraged the storage of product in tanks since mid-April — have particularly boosted import demand. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Pemex fuel output surges, imports down in March
Pemex fuel output surges, imports down in March
Mexico City, 29 April (Argus) — Mexico's state-owned Pemex increased its gasoline and diesel output by 32pc in March from a year earlier, cutting its road fuels imports by 25pc year over year. Pemex's gasoline and diesel output at its six domestic refineries amounted to 562,300 b/d in March, up from 427,100 b/d in the same month of 2023, according to the company's monthly data published on 26 April. Gasoline production rose by 27pc to 350,400 b/d in March year over year. Gasoline output increased by 13pc from February. Pemex's gasoline imports fell by 16pc in March from a year prior, driven by increased domestic production. On a monthly basis, gasoline imports fell by 18pc from February. The company's diesel output surged by 40pc to 211,900 b/d in March year over year, driving imports down by 43pc to 112,500 b/d (see table) . Diesel production was 26pc higher in March compared with February. Road fuels output increased as Pemex's refining system processed 23pc more crude — 1.06mn b/d — in March from the prior year, as result of billion-dollar investments since 2019 to rehabilitate Pemex's refineries and a decline in crude exports . Pemex's regular 87-octane gasoline domestic sales remain almost steady at 527,400 b/d in March from a year earlier. In contrast, 92-octane premium gasoline sales rose by 11pc to 132,800 b/d year over year, as demand for premium gasoline in Mexico has increased this year. The company's diesel sales ticked up by 1pc in March from a year earlier and were 3pc above February sales. Pemex's domestic sales of refined products accounted for 75.6pc of the company's total revenue in the first quarter, Pemex said during its earnings call on 26 April. This compares to a 70.8pc share in full-year 2023, the company said. By Antonio Gozain Pemex fuel production, imports and sales '000 b/d Product Mar 24 Feb 24 Mar 23 YOY ±% Monthly ±% Production Gasoline 350 310 275.5 27.2 12.9 Diesel 212 168 152 39.8 26.0 LPG 110.0 104.0 100.3 9.7 5.8 Jet fuel 38 38 46 -17.1 1.6 Imports Gasoline 307 376 366.0 -16.1 -18.4 Diesel 112 119 196 -42.5 -5.1 LPG 69 100 101 -31.8 -31.1 Internal sales Regular gasoline 527 520 527 0.1 1.5 Premium gasoline 133 134 120 10.9 -0.7 Diesel 261.0 254.0 258 1.2 2.8 ULSD 30.0 28 32 -4.8 8.3 Jet fuel 95 97 94 1.0 -2.3 LPG 167 194 164 2.0 -13.8 Jet fuel and premium gasoline imports and ULSD imports and production are not broken out Pemex Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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