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.

Since halting imports from Russia in February 2023, trade flows have transformed. Diesel is being imported from further afield into large ports and is then redistributed to the rest of the region, creating an export flow from the ARA hubs.

The market has transformed. Only Argus diesel prices reflect this new reality.

New price benchmarks for European diesel

Understand how the European diesel market has changed and why new price benchmarks are important.

Key prices

Key prices: European diesel


Argus provides independent price solutions for the new diesel trade flows in Europe

Argus diesel LR2 cif ARA captures the value of long-range 2 (LR2) diesel cargoes 90,000-100,000 tonnes of restricted origin. These cargoes from the Middle East and Asia represented over 45% of diesel imports in 2023. Argus diesel LR2 prices provide a benchmark to these volumes and bring trusted transparency to the prices of distillate flows into Europe.

Argus diesel fob ARA 30kt captures the value of 30,000 tonne cargoes on Handysize vessels leaving the northwest European hub to supply the rest of the region. This activity has increased dramatically since 2022 as LR2 cargoes are broken down to be redistributed to smaller ports and with increased loadings from local refineries. The Argus price is the first to capture this new and increasing liquidity.

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Related services

Only Argus publishes prices capturing the reality of diesel flows in Europe. Price assessments are published alongside the latest market commentaries and analysis in Argus European Products. Other related services include: