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.
Argentina GDP growth ticks higher in first quarter
Argentina GDP growth ticks higher in first quarter
Montevideo, 24 June (Argus) — Argentina's economic growth ticked up by 2.3pc in the first quarter of 2026 from a year earlier, led by agriculture and livestock, mining and exports. Growth in gross domestic product (GDP) edged up from 2.2pc in the fourth quarter of 2025 and compared with 3.3pc in the third quarter last year, according to INDEC, the statistics institute. It marked a sixth consecutive quarter of annual growth. Growth in the first quarter was led by agriculture, livestock and forestry, the country's traditional economic motor, which surged by 18.1pc. Fishing was up by 27.5pc and mining, where Argentina is beginning to make gains with copper, gold and lithium production, expanded by 12.3pc, according to INDEC, the statistics agency. Construction grew by 2.5pc. Private consumption rose by 2.7pc on the year, while exports grew by 9.8pc. Weighing on growth were manufacturing, which dipped by 1.7pc from a year earlier; utilities, down by 1.1pc; and retail and wholesale trade, down by 0.3pc on the year. Investment fell by 11.6pc on the year. The GDP numbers reflect a mixed bag for Argentina's economy, with exports rebounding, but investment down and inflation and unemployment stubbornly high. Inflation was at a 33.2pc annualized rate in May, an uptick after edging lower the prior two months, INDEC reported last week. Monthly inflation for May was 2.1pc, the lowest monthly rate since September 2025. -By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Paraguay sets biodiesel blend at 8-10pc
Paraguay sets biodiesel blend at 8-10pc
Sao Paulo, 23 June (Argus) — Paraguay's industry and commerce ministry has set the country's mandatory biodiesel blend at 8-10pc, giving the market its first operational benchmark under the new biofuels framework. The decision, reached on 19 June, marks the government's first concrete move following this year's legislative change to Paraguay's biodiesel regime , which expanded the legal blending range to 5-20pc. By setting the initial operating band at 8-10pc, the government is moving above the previous mandate while stopping well short of the new statutory ceiling. The blend takes effect 30 days after its approval. The ministry framed the higher blend as part of a broader strategy to displace imported fuels with domestically produced biofuels, saying the shift would deliver economic and environmental gains, strengthen energy security and support efforts to mitigate climate change. The text also underscores the government's intention to provide the biofuels sector with a more predictable framework for investment. Paraguay's biofuels industry welcomed the decision. In a 23 June statement, the Paraguayan Chamber of Biofuels and Renewable Energies (Biocap) said the regulation marks an important step toward a more diversified energy matrix, greater national energy security and lower dependence on imported fuels. Biocap also said Paraguay has installed industrial capacity, feedstock availability and technical know-how to support further growth in biofuels. The industry group also sought to address compatibility concerns around higher blends, saying international experience shows biodiesel blends that comply with existing quality specifications are compatible with the normal operation of diesel engines. Biocap added that fuel quality and compliance with technical standards will be critical for sustainable sector growth. By Flavia Alemi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
High-cost stocks slow Paraguay retail price fall
High-cost stocks slow Paraguay retail price fall
Sao Paulo, 22 June (Argus) — Paraguay's fuel market is showing a widening disconnect between falling international prices and slower domestic pass-through, as state-owned Petropar remains constrained by high-cost inventories accumulated during the recent price spike. Global crude and refined product benchmarks have declined sharply in recent weeks, driven by easing geopolitical tensions and renewed US-Iran negotiations. US benchmark WTI crude futures are down 17pc since 1 June, while the Nymex ULSD July contract fell 14pc during the same period. Nymex RBOB had a softer drop of 3pc. The correction has lowered import parity for diesel and gasoline shipping into Paraguay, theoretically opening space for retail price reductions. But pump prices have yet to adjust, reflecting differences in procurement cycles and stock positions across market participants. During the price rally, private distributors moved quickly to raise pump prices in line with higher import costs, only 10 days after the US attacked Iran in late February. Petropar, by contrast, absorbed part of the increase, leveraging its larger storage position to delay and smooth domestic adjustments. Its 320,000m³ tankage capacity enabled it to act counter-cyclically, reinforcing its role as a price stabiliser and supporting a gain in market share. Petropar raised its prices for the first time almost a month after the conflict started. That advantage is now acting as a constraint. Petropar secured significant volumes at elevated premiums during April-May, at the peak of the rally. In mid-April, it awarded a 50,000m³ (316,500 bl)diesel tender to Vitol at a 53.3¢/USG premium to the Argus ULSD Colonial Pipeline 62 benchmark, for delivery FOB Km 171, Campana or Zarate. In May, Petropar purchased a further 40,000m³ from Trafigura at a 37.11¢/USG premium and 40,000m³ from Glencore at a 32¢/USG premium. But last week, Argus assessed diesel premiums at 14.50¢/USG over July Nymex ULSD for prompt delivery at Km 171 and at 11.50¢/USG over August Nymex ULSD. This would translate to premiums of approximately 21.25¢/USG and 18.25¢/USG, respectively, over Argus ULSD benchmark, about 33pc lower than the lowest premium Petropar obtained in recent purchases. These higher-cost barrels continue to weigh on Petropar's average supply cost, limiting its ability to pass through lower import parity without eroding margins. The result is a lag in domestic price adjustments, particularly within Petropar's retail network. Private importers, with smaller inventories and shorter turnover cycles, are better positioned to capture the downtrend. Faster sourcing of cheaper cargoes gives them greater flexibility to adjust prices, although competitive dynamics and Petropar's dominant role are likely to cap aggressive undercutting. While current international benchmarks indicate scope for reductions in fuel prices, pass-through in Paraguay is likely to remain gradual in the near term. By Flavia Alemi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
French E85 gasoline demand at record high in April
French E85 gasoline demand at record high in April
Barcelona, 16 June (Argus) — Demand for E85 gasoline in France rose to a record high in April, as customers switched from more expensive grades because of the effects of the US-Iran war. Data from industry body Bioethanol France show consumption of the 85pc ethanol blend, which is used in flex-fuel vehicles, increased to 69,000t, from 58,000t in March. This was 15pc higher on the year. Its 6.5pc share of French gasoline consumption was the most since February 2024. Demand for the grade was higher by 43pc since the start of the war at the end of February. There was a similar increase in February-March 2022, when Russia launched its full invasion of Ukraine (see chart) . Since February, French gasoline prices have risen sharply to around €1.98/litre and as high as €2.15/l in rural areas. E85 is around €0.85¢/l. Supportive of longer term E85 demand, some vehicle owners are switching permanently by installing a component that converts a gasoline car to run on E85. French garages and mechanics have reported sharp increases in conversions since the start of the war. Others are choosing to run E85 either neat or more often blended with gasoline, an approach that risks some engine corrosion, as well as potential insurance invalidation. E85 accounted for around 48pc of French fuel ethanol consumption in April. Data from Bioethanol France and Argus calculations show ethanol demand in April — including oxygenate ETBE — at above 140,000t, up by 4pc on the year and from 130,000t in March. Demand in the first quarter was 505,000t, up by 2pc on the year. In April, 10pc grade E10 sales were 615,000t, up by 1.2pc on the year for a 61pc share of total gasoline sales. Sales of premium grade SP98 — that contains 1pc ethanol and up to 15pc of oxygenate ETBE, which can contain 47pc ethanol — were 205,000t, down by 3.5pc on the year. Demand for 5pc SP95 fell by 13pc on the year to 120,000t. This meant E85 sales equated to 57pc of SP95, easily the highest on record. Overall ethanol consumption equated to an estimated calorific share of 9.1pc in April, a three-year high. France is likely to be meeting its blending goal of 9.9pc using ethanol made from double-counted feedstock, with energy ministry figures suggesting this is the case. By Adam Porter E85 demand vs gasoline price '000t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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