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.

Since stopping Russian imports in February 2023, the European market has transformed. Only Argus diesel prices reflect this new reality.

Key prices

European Diesel price map

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.

Learn more about these prices

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Featured content

  • 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: 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: 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?
  • 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.
  • 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.
  • 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.
  • 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?


03 noviembre 2023

Driving Discussions Europe: The new European Diesel flows looking to meet winter specs

In this new episode, Benedict George, deputy editor, joins Alfonso Berrocal, business development manager, to discuss the diesel spec changes from summer to winter and how they might affect diesel producers. Additionally, they talk about trade flows, demand, and supply ...


Europe Productos refinados English Flete y Transporte

05 julio 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.


Productos refinados Russian Europe English

05 abril 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 Crudo English Flete y Transporte

29 marzo 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 Productos refinados

13 diciembre 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 Flete y Transporte

18 noviembre 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 Productos refinados

15 septiembre 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 Crudo English Global North America
View all the podcasts from the Driving Discussions series here

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