European diesel

European diesel

As the most consumed refined product in Europe, diesel is a fundamental source of road fuel. But without sufficient local refining capacity to cover demand, the region is dependent on imports of this critical product. These trade flows have changed dramatically since the start of 2022 as Europe rejects Russian-origin oil and turns to long-range cargoes from other sources.

This ‘new normal’ requires new price benchmarks for the European diesel market.

European diesel price map

Key Prices

Argus provides a price solution for long range 2 (LR2) diesel cargoes 90,000-100,000 tonnes of restricted origin. These prices represent today’s changing market and bring transparency to the prices of distillate flows into Europe, enabling you to navigate the market, manage risks and make well-informed decisions.
Get a snapshot of our European diesel prices each week, direct to your inbox. Sign up here.



Featured content

  • Webinar

    Webinar: Will European diesel demand return with winter?

    This year, the diesel-intensive industrial activity around Europe has been particularly low compared to previous years. Why is this? And will we witness the usual seasonal trend in diesel demand increasing as we enter into the winter season?
  • Webinar

    Webinar: European diesel markets in 2023

    Join us for this special webinar, as our team delve into the story of European diesel stocks, changing trade flows and what's happened with prices so far this year.
  • Webinar

    Webinar: Upheaval for European diesel  markets in 2023

    2023 will be a year of transformation for oil markets in Europe and none more so than diesel. Where will Europe find supply to replace Russian diesel? How might macroeconomic factors impact demand and prices? And why are new price benchmarks now needed?
  • Reports

    Trade flows: Alternative diesel sources for Europe

    Traditionally, 50-60pc of Europe’s diesel imports came from Russia as part of term supply contracts but since the regulatory ban, this is no longer an option. Instead, alternative flows are growing in importance to address the shortage of diesel in the European market. View the forecast from our consulting team for supply and demand balances for each region.
  • Publications

    Blog post: Europe is looking at a diesel supply crisis — unless demand goes first

    The EU sanctions on track to ban Russian oil from this winter onward will impact diesel more than anything else. Prices are likely to go so high that demand for the fuel gets squashed. That is, if the recession has not already destroyed that demand.
  • Publications

    FAQ: Argus pricing solutions for non-Russian diesel cargoes coming into Europe

    The European diesel market is going through one of the largest changes seen in recent years, with market participants seeking to avoid and diversify away from Russian-origin oil.
  • Publications

    2023 – a year of oil market dislocation?

    Uncertainty for the oil market is expected to continue into the new year. A key concern is diesel — even after 10 months of self-sanctioning, Europe continues to import 600,000 b/d of Russian diesel. Where will Europe source its diesel and where will Russian supply be redirected to?


05 July 2023

Driving Discussions Europe: How are sanctions changing the pattern of European Diesel demand and VGO spreads?

In this episode, get an update on the diesel market halfway into 2023 and the demand-supply expectations going forward. Learn more about the impact of the Russian sanctions on the way that refineries source vacuum gas oil (VGO) and its spreads.


Oil products Russian Europe English

05 April 2023

Driving Discussions Europe: Russian diesel keeps on flowing beyond EU/UK borders

Russian exporters are managing to sell their diesel just as before the sanctions were introduced last February 5th. So what is the new dynamic in the market?


Russian Crude oil English Freight & Transportation

29 March 2023

Driving Discussions Europe: Diesel heading for uncharted waters

Europe stocked up on diesel at the start of the year, but March saw imports shrink. In this episode of Driving Discussions Europe, Benedict George, associate editor for Argus European Products, updates business development manager Alfonso Berrocal on what’s behind excep...


English Europe Oil products

13 December 2022

Driving Discussions and the Weight of Freight: Why 2023 will be a year of change for diesel shipping

European distillates’ demand will shape the global flows and the shipping market, which is to become a central element for the supply of Diesel into Europe, particularly from February 2023 onwards, once Russian Diesel is phased out.


Russian English Freight & Transportation

18 November 2022

Driving Discussions: Rocky waters for diesel markets

What is the impact of the Russian Diesel phase out in Europe? And what are the consequences to the global shipping market?


Europe Russian English Oil products

15 September 2022

Driving Discussions: Sanctions are coming: Diesel market outlook

How will high prices impact European diesel demand? What is the outlook for diesel prices?


Europe Crude oil English Global North America
View all the podcasts from the Driving Discussions series here

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