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.
Rare ARA-east gasoline booking hints at growing demand
Rare ARA-east gasoline booking hints at growing demand
London, 5 March (Argus) — A rare high-volume gasoline cargo booking from Amsterdam-Antwerp-Rotterdam (ARA) to Singapore, even though it failed today, signals growing demand east of Suez for European oil products as the Iran war disrupts Asia-Pacific gasoline balances. Trading firm Gunvor's chartering arm Clearlake booked a Long Range 2 (LR2) vessel on 4 March to load gasoline at ARA for Singapore delivery, but it was cancelled today, according to sources. The Sti Connaught had been put on subjects — provisionally booked — to load 90,000t of gasoline from the UK Continent or ARA on 9 March for Singapore delivery, according to a fixture seen by Argus . The reason for the failure was not immediately known. But the rare booking could suggest interest east of Suez for European gasoline is increasing as buyers look beyond the Mideast Gulf to secure supply, according to market participants. Europe to Singapore product flows are uncommon, one Singapore-based analyst said. European gasoline deliveries to Singapore stood at just 114,000t between 2022-2025, according to Kpler. In comparison, Mideast Gulf deliveries to Singapore were at 619,000t in the same period, according to Kpler. Prompt Asian gasoline prices surged further during regional trading hours today as concerns mounted over Chinese export availability, tightening supply in an already short market, while additional reports of cargo cancellations from Japan or India also supported values. Traders in Asia-Pacific are starting to look far afield to source product for the region. Highlighting the severity of the supply tightness in Asia-Pacific, ExxonMobil, in an extremely rare move, booked two Medium Range (MR) tankers provisionally from the US Gulf to Australia on 4 March, likely carrying 92 RON spec unleaded gasoline, at $6mn lumpsum each, or $157.89/t. A gasoline cargo of an undisclosed size was also booked for Australia loading in Barcelona, an analyst told Argus today, although it could not be confirmed. Higher freight rates for oil products tankers since the Iran war broke out on 28 March were holding traders back from booking European gasoline or naphtha cargoes for destinations east of Suez at the start of the week . The Japan-bound LR2 rate from the Mideast Gulf surged to the five-year high of WS435 ($98.53/t) on 4 March, a 117.5pc leap from WS200 ($45.30/t) on 27 February. The LR1 rate on the route climbed to WS440 ($99.66/t), a 100pc jump from WS220 ($49.83/t) over the same period. Similarly, the Mideast Gulf to the UK Continent LR2 rate reached a five-year high of lump sum $8.7mn — with the previous high at $8.8mn on 27 April 2020 — and the LR1 rate reached a two-year high of lump sum $6.5mn — with the previous high at $7.4mn on 31 January 2024. But a widening spread between Singapore 92 Ron front-month swaps and physical non-oxy gasoline barges in Europe could make the trade economics more favourable, even though increased oil products movements on that route may lift freight rates further. Singapore 92 Ron front-month swaps were at a $7.52/bl premium to European non-oxy gasoline barges yesterday, a three-year high, according to Argus calculations. By George Maher-Bonnett and Erika Tsirikou Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Los Angeles gasoline prices hit 22-month high
Los Angeles gasoline prices hit 22-month high
Houston, 5 March (Argus) — Los Angeles gasoline prices climbed to a 22-month high on Thursday as tight regional inventories and turmoil from the US-Iran war pushed both cash differentials and the Nymex gasoline basis sharply higher. Prompt March Los Angeles regular CARBOB gasoline prices reached $3.08/USG on Thursday morning, the highest outright prices since April 2024. Trades were struck as high as +44¢/USG over the April RBOB Nymex, widening differentials 11.5¢/USG above Wednesday's close. The front-month April Nymex basis rose by 13¢/USG during the Thursday morning session to $2.64/USG, also marking the highest level in more than 22 months. The US-Israeli campaign against Iran has entered its sixth day, as retaliatory strikes on regional energy infrastructure drive widespread fears of prolonged supply disruptions. US gasoline inventories fell last week to a seven-week low as rising net exports outweighed falling demand, according to the most recent US Energy Information Administration (EIA) data released on Wednesday. California stockpiles of CARBOB gasoline — used exclusively in the state — fell to 4.93mn bl last week, according to data released by the California Energy Commission (CEC) on Thursday. This was the third consecutive week of receding gasoline supplies in California, amplifying a supply crunch ahead of the October closure of Phillips 66's Los Angeles refining complex and Valero's late January closure of its 150,000 b/d Benicia, California, facility. By Craig Ross Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
No tankers crossed Hormuz on 3 March: JMIC
No tankers crossed Hormuz on 3 March: JMIC
New York, 4 March (Argus) — There was no tanker traffic through the strait of Hormuz on 3 March, the fourth day of fighting between the US, Israel and Iran, due to threats of attacks from Iran and satellite jamming, according to global maritime security partnership Joint Maritime Information Center (JMIC). That total on Tuesday compares to 50 tankers on 28 February, the first day of fighting, and three tankers each on 1 and 2 March, according to the JMIC in a notice shared by the United Kingdom Maritime Trade Operations. Cargo ship traffic dropped to only a single vessel on 3 March from 98 on 28 February, 18 on 1 March and seven on 2 March. The historical daily average for all vessels through the strait is about 138 ships, JMIC said. The notice, which was published by JMIC at about 12:27pm ET on 4 March, included four vessels in a list of confirmed vessel incidents from the "approximately past 24 hours". The containership Safeen Prestige was the only vessel with damage the JMIC did not describe as "minimal" and the only vessel that was located within the strait of Hormuz at the time of its incident. The Gold Oak dry bulker, anchored near Fujairah, sustained minimal damage. The tanker Libra Trade r also sustained minimal damage 10 nautical miles off the coast of UAE. "US and Israeli-affiliated or flagged vessels are advised to minimize time spent pier-side or at anchor within high-risk zones to reduce vulnerability of targeting," JMIC said. "Maintaining movement and avoiding predictable patterns remains critical for mitigating the risk of targeting strikes or collateral damage." Vessel tracking data and navigational tools within the region will likely become increasingly unreliable in the days to come with significant Global Navigation Satellite System jamming underway throughout the strait of Hormuz, Gulf of Oman and the Arabian Gulf, according to JMIC. "Observed impacts include positional offsets, Automatic Identification System anomalies and intermittent signal degradation," JMIC said. By Ross Griffith Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Dangote refinery's RFCC running near capacity: Source
Dangote refinery's RFCC running near capacity: Source
London, 4 March (Argus) — Nigeria's 650,000 b/d Dangote refinery has restarted its residual fluid catalytic cracker (RFCC) after maintenance, and the unit is now running at about 90pc of capacity, according to a source with knowledge of the matter. The RFCC has a capacity of roughly 218,000 b/d and is the refinery's main gasoline-producing unit. It appears to have come back online after scheduled test runs in mid-February. The unit had been offline since December, chief executive David Bird said last month. The refinery's naphtha hydrotreater, isomerisation unit and catalytic reformer — which Dangote refers to as the "motor spirit block" — were running in early February but had not yet reached full capacity following January maintenance, an industry source told Argus in mid-February. Dangote was listed in fixtures as having booked what freight brokers described as a 37,000t gasoline cargo loading from the French port of Lavera on 10-12 March for delivery to the US, west Africa or southern Africa. But the cargo is actually carrying naphtha and "catgas" for Dangote, the source said. Catgas — also known as FCC gasoline or cracked naphtha — is an RFCC product that often requires further blending to meet gasoline specifications. Dangote has, meanwhile, raised gasoline asking prices since mid-February, according to local fuel brokers. Flat prices were given at 875 naira/litre on Monday, up by 14pc from around N750/l on 17 February. Benchmark non-oxy gasoline values rose by 12pc over the same period to $728.75/t. Despite the price rise and the near-complete return of RFCC capacity, three European gasoline cargoes have recently loaded for west Africa, according to one European gasoline analyst. Trading firm Vitol booked a 37,000t gasoline cargo on Monday loading fob Lavera for west Africa, according to a fixtures report seen by Argus , suggesting arbitrage economics remain attractive despite firmer Medium Range (MR) tanker rates. UK Continent–west Africa MR rates rose to $52.86/t (WS275) on 3 March from $39.40/t (WS205) just before the US-Iran conflict began, which raised concerns over prolonged delays to diesel and jet fuel shipments through the strait of Hormuz and shifted buyers' attention to US Gulf diesel supplies — Europe's main alternative. By George Maher-Bonnett and Erika Tsirikou Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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