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.
Saudi gasoline exports at a six-year high in 2024
Saudi gasoline exports at a six-year high in 2024
Dubai, 26 February (Argus) — Saudi Arabia's gasoline exports in 2024 were the highest in more than six years, as refinery upgrades and domestic demand below pre-Covid levels left more supplies available. Latest figures from the Joint Organisations Data Initiative (Jodi) put show Saudi gasoline exports at an average of 280,500 b/d in 2024, the highest since 413,000 b/d in 2018. The rise comes as Saudi gasoline demand still lags pre-pandemic 2019 levels, mainly because of higher retail prices. Demand averaged 514,000 b/d in 2024, well below 2019's 550,000 b/d and only 1pc above the 509,000 b/d in 2023. Higher retail prices have long been a concern in Riyadh, which increased the price of local refined products in 2016 and 2018 as part of a wider effort to gradually eliminate subsidies in the energy sector. In 2021, the country put a cap on prices to soften the effects of rising living costs and in hope of stimulating domestic fuel demand and economic activity. Retail gasoline prices in February to date are at the same level as June 2021, at 2.18 riyals/l ($0.58/l) for 91R and SR2.33/l for 95R gasoline, they are higher than 2019 average of $0.55/l. The demand weakness was compounded by digitalisation of several government services in Saudi Arabia since the pandemic, according to FGE analyst Palash Jain. "There are reports that indicate that transactions are increasingly shifting online and citizens are no longer required to be physically present to avail certain government services," Jain said. Saudi gasoline demand could slow further as the country expands production of electric vehicles (EVs), part of a strategy to diversify its economy away from oil. Saudi Arabia has a target of achieving 30pc EV adoption by 2030 and the country's PIF sovereign wealth fund has a 60pc stake in EV manufacturer Lucid Motors, which aims to build 150,000 vehicles a year at it factory in the country. Local refineries ramp up Gasoline output from Saudi refineries soared to a record 650,500 b/d in 2024, compared with 614,500 b/d in 2023 and 630,500 b/d in 2022, driven by higher output from the 400,000 b/d Jizan refinery on the Red Sea coast. Saudi refinery crude runs rose by 3pc on the year to a two-year high of around 2.59mn b/d in 2024, according to Jodi. Singapore emerged as a notable destination for Saudi gasoline cargoes, taking 23,000 b/d in 2024 after just 2,500 b/d in 2023, according to preliminary data from oil analytics firm Vortexa. Gasoline cargoes that loaded from Jizan were increasingly heading to Singapore in the fourth quarter of 2024. State-controlled Aramco has been replacing Arab Medium crude with a mixture of Arab Light and Arab Heavy as feedstock for Jizah, which could in theory increase gasoline yield. The UAE and Oman were among the top buyers of Saudi gasoline in 2024, with around 20pc and 13pc of the overall. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
South Korean gasoline stocks hit record highs in Jan
South Korean gasoline stocks hit record highs in Jan
Singapore, 26 February (Argus) — South Korean gasoline stock levels hit record highs in January, according to Korean Monthly Oil Statistics (KMOS) data. Gasoline stock levels stood at 7.69mn bl on January 2025, up by 26pc from average levels in December and 32pc higher on the year, according to KMOS. This was also above average stock levels of 5.8mn-6.1mn bl/month over 2022-24. The reason for the surge in gasoline stock levels could not be confirmed, but it could be a combination of lower export volumes and a drop in domestic consumption. Domestic gasoline consumption was at 6.98mn bl in January, down by 15pc on the month and by 13pc on the year, according to KMOS. Export volumes also fell by 9.3pc on the month and by 14pc on the year to 9.33mn bl in January. By Aldric Chew Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Australia's Rio Tinto completes Pilbara biofuel trial
Australia's Rio Tinto completes Pilbara biofuel trial
Sydney, 26 February (Argus) — Australia's Rio Tinto has completed a four-week trial across January and February using renewable diesel, to help decarbonise its Pilbara iron ore operations. Rio Tinto used 10mn litres of renewable diesel made from used cooking oil for the trial. The renewable diesel was sourced from Neste's Singapore biorefinery and shipped by Viva Energy to the Parker Point fuel terminal in Dampier where it was then blended with 80pc diesel. The blend was then distributed for use in rail, marine, blasting, haul trucks, surface mining equipment and light vehicles across Rio Tinto's Pilbara mining operations. "Through this trial with Neste and Viva Energy, we've gained valuable insights into how renewable diesel can help bridge the gap to widespread electrification, as well as for circumstances where electrification may not be suitable," said Rio Tinto's managing director for rail, port and core services, Richard Cohen. The trial was the first for Rio Tinto in Australia, while the company has already used renewable diesel at its Boron and Kennecott operations in the US, where 11pc of its total global fossil diesel consumption has been replaced with renewable diesel. Rio Tinto is also developing a Pongamia seed farm in Northern Queensland as part of a biofuels pilot study to explore the potential of seed oil as a feedstock for renewable diesel output. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Gasoline price in southern Germany down on ample supply
Gasoline price in southern Germany down on ample supply
Hamburg, 24 February (Argus) — Suppliers in southern Germany are lowering gasoline prices compared with the nationwide average on ample supply and slow demand. Gasoline availability in Southern Germany has remained sufficient enough to cover local demand even though refinery outages hampered supply, because demand has remained slow, around Karlsruhe especially. This has forced some suppliers to keep prices well below the national average. Gasoline prices in the region have fallen significantly compared with the rest of the of Germany with discounts of over €2,20/100l in the past week. Production at the Bayernoil consortium's 215,000 b/d Vohburg-Neustadt refinery in Bavaria and the Miro joint venture's 310,000 b/d Karlsruhe refinery is still restricted. Both facilities experienced technical problems within days of each other at the end of January. While a third of Miro's production capacity is expected to remain offline until the beginning of March, the operators of the Bayernoil refinery began the process of bringing the affected units back online on Sunday. Meanwhile, suppliers in Cologne are selling gasoline with a premium of up to €1,60/100l to the national average. This sudden price jump points toward reduced availability at Shell's 334,000 b/d Rhineland refinery complex. Although traders in the region have not reported any gasoline shortages, the upcoming end of crude refining at the 147,000 b/d Wesseling plant of the Rhineland refinery in March could already be having an effect on prices. By Natalie Muller Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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