Road fuels
Overview
Fuels for road transportation continue to drive the refining industry. But gasoline and diesel use is coming under increasing pressure from the introduction of low-carbon targets 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 conventional fuels — gasoline, middle 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.
No clear path to pre-war Hormuz return: D’Amico
No clear path to pre-war Hormuz return: D’Amico
New York, 13 March (Argus) — Tanker operator D'Amico sees significant headwinds facing global shipping even if the strait of Hormuz can effectively reopen to commercial traffic given infrastructure damage in the Mideast Gulf and mines possibly lingering in the strait. "There are almost 19mn b/d between crude and refined products which used to transit through Hormuz, so around 18pc of total oil supply and 25pc of seaborne volume," D'Amico chief executive Carlos Balestra di Mottola said. "I expect when the war ends, unfortunately, we will not be able to see all the flows we were seeing from this region," di Mottola said. Reopening the strait of Hormuz would remove the major chokepoint that has starved global markets of typical Mideast Gulf flows of refined oil products and crude oil. But the reality on the ground has shifted in the two weeks since the US and Israel began striking Iranian targets. Expecting a similar level of output from the Mideast Gulf in the near term even with the removal of this chokepoint may be too presumptuous, according to di Mottola. "I believe, unfortunately, [flows of crude oil and refined products] might not be able to come back to full speed immediately," di Mottola said. "It will crucially depend on how severely damaged all this oil infrastructure is. We are reading headlines every day of refineries being attacked, export terminals being attacked, so we really will only be able to assess and understand the extent of this damage when things calm down." Iranian mines suspected to be resting on the seabed of the strait remain the biggest wildcard for shippers and insurers alike. A full reopening of the strait would require assurances of total mine removal from the area, which would likely require significant time to complete. "Before sending our vessels, we want to make sure that there aren't any mines which could be hitting our vessels," di Mottola confirmed. He noted that none of the company's 21 medium range tankers and six long range 1 tankers were stuck within the Mideast Gulf, but that the company did cancel one contract with a charterer because it was not safe to enter the region. Di Mottola also pointed to ongoing Red Sea loadings as providing some relief to the de facto closure of the strait of Hormuz in the meantime, but only at a fraction of typical flows. "There is the potential to reroute, through some pipelines [to the Red Sea], part of this production, around 3.54mn b/d, but that leaves still a deficit of around 15mn b/d and lost oil output which cannot be easily replaced," di Mottola said. By Ross Griffith Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil biodiesel blend hike faces delay
Brazil biodiesel blend hike faces delay
Sao Paulo, 13 March (Argus) — Brazil's mines and energy ministry has ruled out raising the biodiesel blend before feasibility tests are completed, amid increased lobbying for a higher mandate as oil prices rise on the US-Iran war. Market participants had expected Brazil's national energy policy council (CNPE) meeting — originally scheduled for yesterday and postponed to 19 March — to include a biodiesel blend increase on the agenda. But the mines and energy ministry told Argus that tests on blends ranging from 16pc to 25pc remain in the final phase of methodological consolidation and experimental activities have not yet started. Without tests proving the new blend levels are technically feasible, the law does not allow the mandatory blend increase schedule to move forward, the ministry said. Brazil's fuels of the future law projected an increase in the blending mandate to 16pc from the current 15pc this month. The ministry expects to start experimental trials in the first half of 2026. The original schedule planned for the tests to be completed in June, with final validation in August. Brazilian hydrocarbons regulator ANP today approved a draft ordinance establishing guidelines for its participation in one of the projects that will test biofuels blends. Brazil's parliamentary front for biodiesel FPBio has intensified lobbying to increase the biodiesel blend to 17pc from 15pc, calling it a "strategic measure for energy sovereignty, economic stability and the protection of Brazilian consumers". Brazil can currently supply up to a 21.6pc biodiesel blend into diesel, industry associations Abiove and Aprobio said in a joint statement supporting the increase. Prices for imported 10ppm (S10) diesel at Brazilian ports surpassed biodiesel contract prices on 6 March for the first time since October 2023, as global oil derivative prices rose on the US-Iran war. The government announced on 12 March measures to eliminate the federal VAT-like PIS/Cofins tax levy on diesel imports and sales to mitigate the impact of the Iran war on oil prices. Market participants also expect the CNPE meeting to address the authorization of biodiesel imports, but there is no official confirmation on the subject. Ethanol market participants have also speculated a rise in the mandatory ethanol blend in gasoline to 32pc from 30pc, but there are no official timelines set in the Fuels of the Future law for this change. The mines and energy ministry said it continuously monitors the international energy scenario and its potential effects on the domestic fuel market. By Lucas Lignon Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia to cut mandated gasoil, gasoline stock levels
Australia to cut mandated gasoil, gasoline stock levels
Sydney, 13 March (Argus) — Australia's minimum stockholding obligation (MSO) is to be reduced for each company to which it applies, to ensure extra supply of gasoil and gasoline flows to regions experiencing shortages. This will allow the release of up to 762mn litres (4.8mn bl) of gasoline and gasoil from Australia's domestic reserves, the government said. Australia's sales of gasoline and gasoil were 273,000 b/d and 578,000 b/d respectively in 2025. The MSO for gasoil will be reduced from 2.7bn litres to 2.2bn litres, while mandated gasoline storage levels will be cut from 1bn litres to 700mn litres, energy minister Chris Bowen said on 13 March. Altering MSO levels will form part of Australia's contribution to the IEA's global collective action to release 400mn bl, Bowen said. This comes a day after New Zealand announced it would release about 800,000 bl or six days' domestic supply as part of its efforts. Bowen on 12 March announced a relaxation in fuel standards allowing Australian refiner Ampol to sell its gasoline domestically at 50ppm sulphur content, above the national standard of 10ppm for a 60-day period. The firm has been exporting this gasoline while importing fuel that meets the new lower sulphur standard, ahead of its ultra-low sulphur fuels project coming on line in April-June this year. Demand booms But this release of gasoline is unlikely to alleviate shortfalls in regional areas where gasoil is more widely used in both industry and private transport. Australia's refiners skew towards gasoline output, producing 101,000 b/d of gasoline and 79,000 b/d of gasoil in 2025. Fuel demand has spiked in recent weeks due to the outbreak of the US-Iran war. This has led to reported shortfalls in Australia's regional areas which rely on smaller independent wholesalers for supply, far from terminals. Mandated gasoil stock levels were last raised from 1 July 2025 to 32 days' cover for importers and 20 days for refiners Viva Energy and Ampol. Weekly MSO reporting covers 10 companies for gasoil, eight for gasoline and six for jet fuel, with gasoil storage volumes increasing in the two years to mid-2025 due to government regulations. Total stocks held under the MSO in 2024-25 were equal to 33 days' consumption for gasoil, 39 for gasoline and 31 for jet fuel, based on typical demand. Australia has not been compliant with the IEA's 90-day net import coverage standard since 2012 when several local refineries closed. Meeting the 90-day rule would require investment of A$20bn ($14.2bn) according to Bowen, who said the MSO is sufficient to meet Australia's fuel needs. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US Gulf coast gasoline prices surpass 2-year highs
US Gulf coast gasoline prices surpass 2-year highs
Houston, 12 March (Argus) — US Gulf coast conventional 87 finished gasoline prices reached their highest point in over two years on Thursday after the US-Iran conflict led a spike in export demand. Both crude and refined products supplies continued to face a bottleneck after joint US and Israeli attack on Iran starting on 28 February led to the closure of the strait of Hormuz, driving global buyers to turn to the US Gulf coast to secure gasoline. Regional conventional gasoline prices hit $2.895/USG on Thursday, up by 42.87¢/USG on the week to highs not reached since late September 2023. The Gulf coast had already exported a record 918,000 b/d of gasoline in February, the highest level for any February since Kpler began recording data in January 2016, in an attempt by refiners to minimize a glut in regional winter-grade gasoline inventories ahead of the summer driving season. Though exports had driven regional gasoline inventories to three-month lows of 85.1mn bl in the week ended 6 March, Energy Information Administration data show, those levels had climbed past year-before levels by 9.2pc. However, continued strength in exports, especially as the US weighs waiving Jones Act domestic shipping restrictions , has led to expectations of further declines in inventories ahead of the summer driving season when road fuel demand is at its highest and driving conventional gasoline prices higher as a primary benchmark price for exports and domestic blending. The Jones Act mandates that vessels carrying shipments between US ports must by US-built, crewed and owned. Gulf coast gasoline exports were 1mn b/d in the week ended 6 March, after the US began strikes on Iran, an increase of 9.7pc on the week. Compared with the same week last year, exports were 39.6pc higher. Furthermore, the potential waiver of the Jones Act attracted more charters of medium range tankers for Gulf coast loading . By Hannah Borai Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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