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.
Australia pledges $42mn to boost EV sales
Australia pledges $42mn to boost EV sales
Sydney, 3 February (Argus) — The federal government of Australia will spend $A60mn ($42mn) to subsidise loans for electric vehicles (EVs), in a bid to increase the uptake of lower-emissions cars. Money allocated by the federally-funded agency Clean Energy Finance (CEFC) will go towards subsidising interest rates for new EVs available for purchase through Hyundai Capital Australia, an arm of the South Korean carmaker, energy minister Chris Bowen said on 3 February. Discounts of 0.5-1pc will be offered for loans on eligible Hyundai- and Kia-branded EVs, with a 1pc discount on a A$70,000 loan over five years cutting A$1,900 in interest costs, Bowen said. Transport remains a major source of Australia's emissions, with 98.7mn t of CO2 equivalent (CO2e) in the year to 30 June 2025, or 22.5pc of total emissions of 437.5mn t . Canberra's New Vehicle Efficiency Standard (NVES) is taxing manufacturers based on CO2e emissions , which it projects is likely to drive up EV sales. But transport emissions rose by 0.3pc to 98.7mn t CO2 equivalent (CO2e) in 2024-25 on the back of a rise in diesel consumption for road transport and jet fuel demand. A ban on new gasoline and diesel registrations may be needed to reach a goal of 50pc of new car sales being EVs by 2030 to drive down emissions, industry body the EV Council has said. But 2025 was a record for EV sales, with 156,000 purchased. But about one-third were plug-in hybrid vehicles which can also run on gasoline or diesel. The NVES has provided policy certainty and increased availability of EVs in Australia but has so far had little effect on EV demand, the Federal Chamber of Automotive Industries (FCAI) has said. FCAI data show just 8.3pc of new vehicle sales were battery EVs last year. Australia's fuel tax rebate scheme has also been targeted by lobbyists demanding it be capped to reduce diesel demand , but industry insists that the road-user tax should not apply to businesses not using public infrastructure. Australia's gasoline sales are dipping. Gasoline sales averaged 271,000 b/d for January-November 2025, compared with 278,000 b/d during January-November 2024 and 276,000 b/d during January-November 2023, according to data from Australian Petroleum Statistics. Consumption was 298,000 b/d for the same period in 2019 before the Covid-19 pandemic. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US naphtha displaces Russian flows to Venezuela
US naphtha displaces Russian flows to Venezuela
New York, 28 January (Argus) — Naphtha shipments to Venezuela loading in January have come entirely from US Gulf coast suppliers, reversing the previous Russia-dominated trade for the diluent needed to transport Venezuelan crude after US intervention. Ports in Houston, Beaumont and Corpus Christi, Texas, have shipped between 970,000-1.22mn bl of naphtha to Venezuela so far this month, according to Kpler and Vortexa data, compared to 560,000-1.21mn bl for the last three months of 2025, when Chevron was the only oil major with a US government waiver to trade with Venezuela. Vitol has joined commodity trader Trafigura in this naphtha trade, after the US physically removed Venezuelan president Nicolas Maduro from power and cracked down on sanctioned vessel shipments to and from the country, cutting the primarily Russian flow of the diluent to Venezuela. Since 2023 Venezuela has been the importer for the majority of Caribbean-bound naphtha, and was typically the second-largest buyer of US Gulf coast naphtha, before the US government removed sanctions waivers in May 2025. Buyers in the country primarily import naphtha on long range 1 (LR1) tankers, while the US Gulf coast spot market for refined product shipments is typically dominated by medium range (MR) tankers. Rising Venezuelan demand could spur additional LR1 demand from the US Gulf coast, which primarily trades as a backhaul for more liquid LR1 markets in deeper Pacific basin ports, especially for Mideast Gulf loadings. This could also affect the MR tanker market as other Caribbean naphtha buyers look to stock up ahead of further Venezuelan demand. Chevron sought an MR tanker for a US Gulf coast-Caribbean voyage on 27 January to load naphtha between 30 January and 1 February. A charterer later fixed at least one Caribbean-bound MR tanker at a $900,000 lumpsum on the same day, a 44pc jump in the voyage rate from the $625,000 lumpsum at the end of the trading day on 23 January. It is unclear if the second cargo was naphtha or another refined product. Naphtha spot participants unimpressed A swift rise in N+A naphtha prices on the US Gulf coast opened the arbitrage to the region, following the new supply agreement between the US and Venezuela. Differentials for heavy naphtha, the primary grade use as a Venezuelan diluent, shot up by more than 10¢/USG just before the first US naphtha shipment in early January. By mid-January, N+A naphtha differentials gave up all the gains. Selling interest for US Gulf coast naphtha diminished following the open arbitrage, potentially setting a precedent that sellers wanted to avoid in an already long market. A cargo of naphtha from Huelva, Spain, was booked for the US Gulf coast on 13 January with an estimated arrival of 3 February, shipping reports show. This supported the view that the naphtha arbitrage to the US Gulf coast was open. The Huelva cargo was reportedly suitable for blending to the Venezuelan diluent naphtha specification, but this was not confirmed. The Venezuelan diluent naphtha specification was roughly gauged as 70pc heavy naphtha and about 20-30pc lighter naphtha. Increased Venezuelan production in the longer run is not entirely bullish for US naphtha markets. Before Venezuelan production slowed during the regime of former president Hugo Chavez, Venezuela actively exported light naphtha from Jose and Las Salinas, primarily to the US Atlantic coast. Increased Venezuelan rates would also elevate naphtha production, which could diminish appetite for US naphtha imports and displace US naphtha market share globally. By Ross Griffith and Daphne Tan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Nigeria Dangote refinery raises gasoline price by 14pc
Nigeria Dangote refinery raises gasoline price by 14pc
London, 27 January (Argus) — Nigeria's privately-owned 650,000 b/d Dangote refinery has raised the price of its gasoline by 14pc, and told local buyers that purchase agreements are no longer valid. Dangote said on Monday the new price is 799 naira/litre (56¢/l). It had cut prices over the Christmas period, the seasonal peak in Nigerian gasoline demand, "to cushion Nigerians at a time of heightened household spending", it said. Local fuel brokers reported gasoline priced around N700/l between 12 December-26 January. Also on Monday Dangote cancelled purchase agreements that were based on its previous pricing levels, market participants said. A trader told Argus a gasoline supply deal it struck with Dangote last week at 699n/l, with truck loadings scheduled for this week, was annulled by Dangote yesterday as it was preparing to send trucks to lift the product from the refinery. Dangote's December price cut broadly eroded gasoline arbitrage economics to Nigeria from Europe. The new higher price would make imports more competitive, according to some market participants, although others said this was contingent on issuance of import permits by Nigeria's downstream regulatory NMDPRA, which is looking unlikely. Argus previously reported the regulator had not issued any gasoline import permits for 2026, as it wants to limit these to covering expected shortfalls in domestic refinery output. Dangote refinery chief executive David Bird said yesterday the site "continues to supply the domestic market with approximately 50mn l (37,750 t/d) of [gasoline] daily". The regulator said Dangote supplied 24,170 t/d in December, noting this was below its planned 37,750 t/d. A Dangote spokesman said the refinery has been offering 37,500 t/d since December, but noted in principle that marketers' offtake is not necessarily the same as volume offered. Bird said gasoline supply could continue during planned maintenance, but did not say if any planned or unplanned works were underway. NMDPRA said on 11 January that the refinery's gasoline-yielding residual fluid catalytic cracker (RFCC) was offline. Four low-sulphur straight run (LSSR) fuel oil cargoes totalling 358,000t loaded from Dangote in 4-20 January, according to Kpler. This is the highest since 534,000t in September 2025, when Dangote's RFCC had works scheduled . A source at the refinery told Argus it plans to shut its crude distillation unit (CDU) for a week , probably this week. The CDU was offline as of Monday, a trader told Argus, but this was unconfirmed. Benchmark non-oxy gasoline barge cracks to Ice Brent were $9.17/bl at the time of writing, down from $9.23/bl at the close of the Monday session. By George Maher-Bonnett and Adebiyi Olusolape Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Mutmaßlich betrügerische Anrufer bieten Billigdiesel an
Mutmaßlich betrügerische Anrufer bieten Billigdiesel an
Hamburg, 22 January (Argus) — Im deutschen Mineralölmarkt häufen sich erneut Anbieter, die telefonisch Diesel zu Preisen anbieten, die deutlich unter dem Markt liegen. Die Anrufer geben sich dabei als Mitarbeiter etablierter Mineralölunternehmen aus. Mindestens zwei seit vielen Jahren im Markt aktive Unternehmen sind betroffen. Beide haben ihre Kunden inzwischen ausdrücklich gewarnt, dass die Angebote nicht von ihnen stammen. Ein Unternehmen hat bereits Strafanzeige gestellt. Die verdächtigen Aktivitäten werden aus Nord-, Ost- und Süddeutschland gemeldet. Auffällig ist, dass die Anrufer neuerdings auch Kleinstmengen — teils ab 2.000 l — anbieten, mit Abschlägen zwischen 1,50 und 5 €/100l zu den marktübliche Preisen. Mineraölhändler berichten, dass nicht nur sie selber sondern auch ihre Endkunden, wie Speditionen, solche Anrufe erhalten haben. Fälle, in denen es tatsächlich zu Lieferungen gekommen ist, sind bislang nicht bekannt. Marktteilnehmer vermuten, dass es sich hierbei um Diesel handeln könnte, der durch unredliche Mittel unter dem Marktpreis offeriert werden kann. Die günstigen Angebote könnten im Zusammenhang mit der Designerfuels-Masche stehen oder mit Diesel, bei dem die Verkäufer grüne Kostenfaktoren wie CO2-Abgabe und THG-Quote nicht berücksichtigen . Im Fall Designerfuels läuft der Prozess gegen acht Beschuldigte seit dem 16. Januar vor dem Landgericht Hof und soll bis Oktober andauern. Unter den Angeklagten befindet sich auch der Geschäftsführer des Mineralölhandels Hoffmann in Schwazenbach. Die Festnahmen erfolgten am 18. November 2024 im Rahmen eines bundesweiten Zugriffs von Zoll und Staatsanwaltschaft. Zuvor waren vor allem im Süden und Osten Deutschlands Dieselangebote frei Haus aufgetaucht, die teils mehrere Euro pro 100 l unter Raffinerie- oder Tanklagerpreisen lagen — und damit massiv unter den Einkaufskonditionen anderer Händler. Diese erlitten infolgedessen erhebliche Umsatzeinbußen. Von Gabriele Zindel Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2026. Argus Media group . Alle Rechte vorbehalten.
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