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.
Brazil central bank raises target rate to 14.25pc
Brazil central bank raises target rate to 14.25pc
Sao Paulo, 20 March (Argus) — Brazil's central bank raised its target interest rate by 1 percentage point to 14.25pc amid accelerating inflation in a decelerating — but still heated — economy. The hike in the target rate, announced Wednesday, was the fifth in a row from a cyclical low of 10.5pc at the end of September last year, partly prompted by accelerating depreciation of the currency, the real, to the US dollar. Brazil's annualized inflation hit 5.06pc in February and is poised to keep accelerating. The bank's Focus economic report increased its inflation forecast to 5.7pc for the end-of-year 2025 from 5.5pc in January, when the bank's policy-making committee last met. Brazil's current government has an inflation ceiling goal of 3pc with tolerance of 1.5 percentage point above or below. The bank has recently changed the way it tracks the inflation goal. Instead of tracking inflation on a calendar year basis, it now monitors the goal on a rolling 12-month basis. The bank cited heated economic activity and a strong labor market as factors that have contributed to rising inflation. But the bank forecasts "modest GDP growth" for Brazil of almost 2pc in 2025, down from 3.4pc growth last year. Further tightening will also be linked to global economic uncertainty prompted by US president Donald Trump's aggressive trade and other policies and the monetary policies of the US Federal Reserve , according to the bank. Brazil's target interest rate is expected to keep rising at the bank's next meeting in 6-7 May, albeit to "a lesser extent" as the contributing factors are set to moderate, according to the committee. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
TotalEnergies delays, cuts size of Grandpuits HVO
TotalEnergies delays, cuts size of Grandpuits HVO
Barcelona, 20 March (Argus) — TotalEnergies is delaying the start up of its Grandpuits hydrotreated vegetable oil (HVO) plant, and is planning to reduce the plant's proposed capacity. TotalEnergies confirmed the planned 400,000 t/yr HVO and HVO jet fuel (SAF) plant, near Paris, will not start in 2025 as previously outlined. Instead, a first phase of 210,000t of SAF output is slated to begin operations "early in 2026." TotalEnergies said there will then be a second phase of 75,000t, which will start at an unspecified point in 2027, giving 285,000 t/yr. If all production is SAF this would be equivalent to around 6,155 b/d. The CGT union said its members at Grandpuits downed tools for 24 hours yesterday, 19 March, as a result of the company's announcement. Workers say they have been promised a meeting with management in mid-April, and there does not appear to be industrial action at the site today. TotalEnergies halted crude distillation at the 93,000 b/d Grandpuits four years ago . The transformation includes a 10,000 t/yr plastics recycling unit. It said 1,200 workers are on site to undertake the conversion and this will result in 250 full time posts on completion. This is consistent with previous plans . The delay and reduction in size at Grandpuits does appear to confound targets for TotalEnergies' HVO and SAF output previously laid out by chief executive Patrick Pouyanne . The company operates a 500,000 t/yr HVO and SAF plant at La Mede, near the port of Fos-Lavera. A Grandpuits worker said management has indicated the company will look to purchase HVO and SAF, in order to honour contractual obligations. By Adam Porter Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Brazil refinery to produce fuel from eucalypt
Brazil refinery to produce fuel from eucalypt
Sao Paulo, 11 March (Argus) — Petrobras-controlled Riograndense refinery successfully conclude tests to produce fuels from eucalyptus biomass in Brazil's southern Rio Grande do Sul state. The refinery used a bio-oil from eucalyptus biomass and converted it in fractions of fuel gas, LPG, components to produce gasoline and marine fuel with renewable content and others. The bio-oil came from industrial company Vallourec's forest unit in southeastern Minas Gerais state. The test reveals the possibility of using wood and other forestry residues as feedstocks for products usually coming from a fossil origin, said Petrobras's technology, engineer and innovation director Renata Baruzzi. Petrobras intends to transform Riograndense refinery into the first oil plant to produce 100pc renewable fuels in the world, according to Petrobras' chief executive Magda Chambriard. The efforts are part of Petrobras' BioRefino program, which will invest almost $1.5bn to generate sustainable fuels as of 2029. Riograndense refinery is also controlled by Brazilian companies Ultra Group and Braskem petrochemical. By Maria Albuquerque Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Brazil ignores fossil fuel phase-out in Cop 30 letter
Brazil ignores fossil fuel phase-out in Cop 30 letter
Sao Paulo, 10 March (Argus) — Climate activists welcomed Brazil's stance of making the UN Cop 30 summit a "turning point" for real climate change commitments but criticized the presidency's letter for turning a blind eye to fossil fuels' leading role in global warming. The summit's president Andre Correa do Lago released on Monday a letter addressing the event's goals and outlooks, which includes boosting climate financing to $1.3 trillion/yr from the target stipulated at Cop 29 of $300bn/yr. "Lago calls on foreign countries — especially the US — to leave individuality and irresponsibility behind in exchange for cooperation and our planet's future," scientist Karin Bruning — a graduate of the University of Heidelberg and the Massachusetts Institute of Technology — said. "However, the letter has no use if Brazil does not pull its own weight." Bruning recalled Brazilian president Luiz Inacio Lula da Silva's public feud with the country's environmentalist watchdog Ibama regarding the exploration in Brazil's equatorial margin region. "A country with so much renewable energy available cannot look at past solutions such as exploring and pushing for fossil fuels," Bruning said. She also highlighted the importance of respecting technical and scientific decisions on matters such as oil exploration. Environmental concerns have always been at the center of the equatorial margin debate, as it stands near a freshwater barrier reef. State-controlled Petrobras has long been trying to explore the area's Foz do Amazonas basin — which holds an estimated 10bn bl of crude, according to energy research bureau Epe — but has struggled to receive the environment licenses to do so. Ibama last denied the company a request to drill in the area in May 2023. Brazilian climate think tank Observatorio do Clima called the letter "inspiring," but added that it "excludes the elephant in the room." It recognized the letter as a "relief for giving the Paris Agreement negotiations to professionals who understand the gravity of the moment" but bashed it for keeping fossil fuels' gradual stoppage out of Cop 30's priorities list. Still, Correa do Lago's letter recognized "the scale of the challenge and the urgency of response," according to climate change think-tank E3G's associate director Kaysie Brown. Holding on to past pledges Correa do Lago's letter focused on progressing previous decisions regarding developing countries and increasing financing for them, which has long been one of the Brazilian government's priorities. This includes working on a roadmap to reach $1.3 trillion/yr in climate finance from all sources by 2035, as agreed at Cop 29 in Baku. But previous Cop agreements and the conclusions of the first global stocktake in Dubai (GST) — a five-yearly checkpoint agreed upon in the 2015 Paris accord — on energy were ignored and pushed back against in Baku's final text. "We do have pending issues to solve at Cop 30, notably the UAE dialogue on implementing the GST outcomes and the just transition work programme," Correa do Lago said. "The GST is an invaluable legacy that unites us. We must all continue to subscribe to it as the ultimate benchmark for climate implementation." By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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Related events
Argus North American Biofuels, LCFS & Carbon Markets Summit
Argus North American Biofuels, LCFS & Carbon Markets Summit
Argus Biofuels Europe Conference & Exhibition
Argus Biofuels Europe Conference & Exhibition
