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.
European VGO exports rise in August, imports fall
European VGO exports rise in August, imports fall
London, 7 September (Argus) — European exports of vacuum gasoil (VGO) rose sharply in August while imports declined, with refinery maintenance cutting feedstock requirements across parts of the region. Exports from the EU, UK and Norway reached 694,000t in August, up by 48pc from 469,000t in July, Kpler data show. The Netherlands remained the largest European loading country in August with 273,000t shipped, followed by France with 112,000t. Sweden exported 80,000t, while Spain and Italy each loaded 77,000t. The US remained a key outlet for European cargoes, alongside destinations within northwest Europe and the Mediterranean. Imports into the EU, UK and Norway fell to 521,000t in August from 548,000t in July and were down by 27.2pc from 716,000t a year earlier. Lower feedstock demand is expected to weigh on the European VGO market in the coming months as several refiners prepare for maintenance. Greek firm Motor Oil Hellas' 220,000 b/d Corinth refinery is scheduled to carry out about 30 days of work on its fluid catalytic cracker (FCC) and hydrocracker between September and October, reducing its VGO processing requirements and potentially increasing feedstock availability in the Mediterranean market. Planned maintenance on Spanish energy firm Galp's 43,000 b/d hydrocracker at its 226,000 b/d Sines refinery is also expected to curb VGO demand. Market participants said the plant is unlikely to require extra VGO purchases for its October run schedule as it builds inventories ahead of the maintenance. Additional work at Polish oil firm Orlen's Plock refinery, including on an atmospheric distillation unit and hydrocracker, is also expected to reduce VGO demand. Spanish Repsol's Bilbao refinery restarted units in early September after an outage that affected a vacuum distillation unit and FCC. Planned work across Europe is expected to curb feedstock demand and support VGO availability through the autumn turnaround season. By Jide Tijani Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US Gulf-China VLCC rate hits record high
US Gulf-China VLCC rate hits record high
New York, 4 September (Argus) — The rate for a bellwether very large crude carrier (VLCC) shipment from the US Gulf coast to China hit its highest level on record today of over $14/bl on strong Asia-Pacific demand, driven by the escalation of hostilities between the US and Iran at the start of Hormuz. Commodity trader ST Shipping put the VLCC Helios on subjects for a US Gulf coast to Asia-Pacific voyage loading from 13-16 October at $29.75mn lumpsum, including $250,000 load-port fees, equivalent to $14.29/bl, boosting the rate for a US Gulf coast-China voyage by $1.15mn day-over-day to that level. This represents the highest level since Argus began its US Gulf coast-China assessment in November 2017. That deal came after Japanese commodity trader Idemitsu put the Maran Apollo on subjects for a US Gulf coast-Japan voyage at $29.25mn, including load-port fees. Norway state-owned refiner Equinor and US independent producer Occidental both put VLCCs on subjects for elsewhere in Asia-Pacific at $27.65mn each, including load-port fees. Charterers have put at least 10 VLCCs on subjects for US Gulf coast to Asia-Pacific voyages since 31 August, including the four from today. Asia-Pacific demand was also high this week for Brazilian crude, with at least eight VLCCs provisionally hired by charterers in that spot market. This was largely driven by strong Chinese restocking demand to keep up with high refined product demand from elsewhere in Asia-Pacific, as Chinese refiners burned through crude stocks, with no end in sight to largely cut-off Mideast Gulf crude flows. The higher competition for Brazilian shipments from these buyers since mid-August likely contributed to the increase in US-loading VLCC demand from Asia-Pacific buyers outside of China like Japan and Taiwan. Midsize rates climb on VLCC spillover The surge in freight rates for the largest crude carrier segment has helped to boost rates for Suezmax and Aframax tankers, with the former in particular benefiting from split cargoes from VLCCs in some instances. The rate for a Brazil-Europe Suezmax voyage jumped by 16.5pc day-over-day to Worldscale (WS) 245 today, while US Gulf coast-loading Suezmax shipments into Europe rose by 11pc to WS202.5 from Thursday. Rising freight rates for VLCCs in the west Africa spot market, which shares a tonnage pool with the Brazilian market, encouraged charterers to explore splitting these 2mn bl cargoes onto two 1mn bl Suezmax tankers on 2 September, according to a shipbroker. Meanwhile, Aframax shipments of WTI crude from the US Gulf coast into Europe have been trading at, and even below, parity with VLCC-sized shipments of WTI on the same route on a $/bl basis. Aframax tankers typically trade at a premium to VLCCs in this context given the greater number of ports the smaller tanker can access and its ease in loading and unloading compared to VLCCs. The last time Aframax-sized shipments of WTI into Europe were cheaper than VLCCs on the same route was in February 2021. The surge in VLCC demand from Asia-Pacific will likely encourage US Gulf coast buyers globally to increasingly consider the midsize segment in the near term, maintaining the upward pressure on rates for Aframaxes and Suezmaxes even after the long holiday weekend for US traders. By Ross Griffith Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia's EV sales top gasoline cars for first time
Australia's EV sales top gasoline cars for first time
Sydney, 4 September (Argus) — Record electric vehicle (EV) sales in Australia are expected to weigh on long-term gasoline demand growth after battery-powered vehicles outsold gasoline-powered cars on a monthly basis for the first time in August. Battery electric vehicle (BEV) sales reached a record 27,089 units in August, up by 171pc from the same month in 2025 and accounting for just under a quarter of total new vehicle sales, according from the Federal Chamber of Automotive Industries (FCAI). There were 25,824 gasoline-powered cars sold and 23,608 of diesel-powered cars sold. The milestone reflects a structural shift in Australia's passenger vehicle market and points to a gradual reduction in future gasoline consumption, particularly in major urban centres where EV adoption rates are highest. Total new vehicle sales rose by 0.4pc on the year to 100,939 units in August, according to the FCAI. Year-to-date sales totalled 811,388 units, broadly unchanged from the same period last year. BEVs surpassed gasoline-only vehicle sales, but internal combustion engine and hybrid vehicles continued to dominate the broader market. Plug-in hybrid vehicles accounted for 10.5pc of August sales and conventional hybrid vehicles represented 18.5pc, indicating that more than half of new vehicle purchases incorporated some form of electrification. The growing uptake of EVs is likely to have a more pronounced effect on gasoline demand than diesel consumption because passenger vehicles account for a significant share of Australia's gasoline use. Diesel demand is more heavily linked to freight, mining, agriculture and industrial activity, sectors where electrification remains at an earlier stage. The immediate impact on fuel demand is expected to be limited because EVs still represent a relatively small share of Australia's total vehicle fleet. But continued penetration of EVs into new vehicle sales could increasingly influence long-term forecasts for domestic gasoline consumption and import requirements. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US Gulf-east coast gasoline shipments gain in August
US Gulf-east coast gasoline shipments gain in August
Houston, 3 September (Argus) — US Gulf coast waterborne gasoline shipments to the US east coast rose to 13-month highs in August because of ongoing gasoline shortages in the southeast US. The Gulf coast shipped 228,000 b/d to the US east coast in August, the highest since July 2025, when shipments reached 235,000 b/d to the Atlantic coast, according to Vortexa ship-tracking data. Demand for Gulf coast gasoline has risen since the beginning of the US-Iran war in late February. Most of the latest shipments reached the southeast US, with roughly 82pc, or 187,000 b/d headed to ports in Florida. This was up by 36pc compared with the same month last year, when 137,000 b/d of Gulf coast gasoline cargoes landed in Florida. Southeast states depend heavily on the Colonial Pipeline system for refined product supply produced mostly in Texas and Louisiana. But Florida, which constitutes the third-largest US fuel market, is largely reliant on waterborne deliveries. In 2026 so far, 88.4pc of domestic waterborne gasoline shipments from the Gulf coast moved through ports in Florida, with 68.2pc of those cargoes accepted in Port Everglades. A looming gasoline shortage along the US Atlantic coast has supported demand for Gulf coast waterborne shipments, with space on Colonial fully allocated and unable to move additional capacity Line 1 space prices — the price to access Colonial's gasoline-carrying Line 1 — averaged +0.54¢/USG in August, up from an average of -0.02¢/USG in August 2025. Line 1 starts in Pasadena, Texas, and connects to Line 3 for access to the New York Harbor in Greensboro, North Carolina, though stronger fuel demand in the southeast US has led to more volume taken off the line at or before Greensboro junction. The central Atlantic coast gasoline market, which includes the New York Harbor and Philadelphia, has faced supply pressures from dwindling regional production and a drop in imports , leaving a stronger arbitrage transporting gasoline into the central Atlantic region via Colonial. The lower Atlantic region, including Florida, saw gasoline inventories fall by 9pc in the week ended 28 August from a year earlier, based on the latest EIA data. The decline increased demand for barrels, but a 90-day extension of the US Jones Act waiver for fuel deliveries on 10 August provided relief. The waiver, enacted in late March in response to oil market disruptions caused by the Mideast Gulf war, allows foreign-flagged ships to carry fuel supplies between US ports, expanding available tonnage moving between the Gulf and east coasts. By Hannah Borai Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Ukraine’s motor fuel market in 2026
How Ukraine's fuel supply has evolved in 2026
Refined Products Through Year-End 2026
Recovery Under Constraint: Why refined product markets could remain tighter than crude through 2026, with continued support for cracks, margins and trade flows.
Refining Under Strain: Supply Disruptions & Rising Oil Market Risk
Explore our road fuels products
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
