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.
Kansas will not join states ensuring E15 access
Kansas will not join states ensuring E15 access
New York, 1 April (Argus) — Kansas will not move to join a group of farm states transitioning next year to a boutique summer gasoline blend, which would have ensured continued access to a higher-ethanol blend in the state. Seven Midwestern states have approval to eventually move a lower-volatility summertime fuel that would allow retailers to keep selling both typical 10pc ethanol gasoline (E10) and blends with up to 15pc ethanol (E15). Kansas governor Laura Kelly (D-Kansas), frustrated by an impasse about federal biofuel policy, said earlier this year that she would give "strong consideration" to submitting a request by 1 April to join those states starting in 2027. But much has since changed in fuel markets. The US-Israel war with Iran has sent pump prices sharply higher, and President Donald Trump's administration has tried to contain the fallout by issuing emergency waivers that streamline summertime fuel rules across the country. Those waivers allow year-round sales of E15 in areas where it would have otherwise been limited while also effectively delaying the Midwestern states' fuel change — first planned for 2025 and then for 2026 — to next year. "With the granting of the temporary E15 waiver, E15 will continue to be sold through 2026", Kelly's office said. "While the governor strongly considered the permanent opt-out, she recognizes that it would not take effect until 2027 and felt that it is a decision best left to the next administration." A new governor will take office next year in Kansas. The Clean Air Act exempts E10 from summertime smog rules that would otherwise prevent its sale but does not extend the same treatment to E15 despite similar air quality impacts. The Midwestern bloc as a workaround had won approval to opt out of the special treatment for E10, effectively putting E10 and E15 on equal footing by requiring less-volatile but costlier blendstocks for both. The farm-state governors saw the workaround as a way to ensure continued E15 access no matter how federal policy changes. But the transition also threatened higher pump prices during peak summer driving season, a political risk even before the war. Kansas deciding not to join the other opt-out states comes despite a lack of progress in Congress on permanently exempting E15 from summertime smog rules, leaving decisions around access each summer to regulators. A task force of US lawmakers has struggled for months to reach agreement on biofuel legislation that would allow E15 sales year-round, in part because some oil refiners have objected to earlier proposals that would restrict their ability to win exemptions from biofuel blend mandates. E15 is typically cheaper than E10, although the blend is not sold at the vast majority of US fuel stations. Advocates blame the lack of availability on regulatory uncertainty deterring retailers from investing in higher ethanol blends. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Asia fuel crunch pushes Australia to US, Europe
Asia fuel crunch pushes Australia to US, Europe
Sydney, 1 April (Argus) — Australia is drawing oil products from the US and Europe to replace cancelled Asian cargoes, as regional export curbs, refinery run cuts and conflict-related disruptions tighten supply and extend voyage times for importers. Six shipments of fuel to Australia had been cancelled or deferred following the outbreak of the US-Iran war as of 22 March, energy minister Chris Bowen said. There have been no further official updates, but several of the lost shipments have been replaced with alternative supplies, he said. Australia imported an average of 79.75 clean product cargoes/month in 2025, including 42.8 gasoil cargoes, 16 gasoline and 7.75 jet fuel shipments, according to Vortexa. The Export Finance and Insurance Corporation Act passed through the Australian parliament yesterday, giving government agency Export Finance Australia new authority to underwrite additional cargoes of critical imports , including fuel and fertilizer, because rising risk premiums are challenging independent importers. A surge in demand from panic buying shortly after the war started has added to the urgency to replace cancelled cargoes as service stations across the country have run out of fuel, especially in regional areas. Australia held 17.1mn bl of gasoil, 10.6mn bl of gasoline and 5.2mn bl of jet fuel on 24 March, equivalent to around 30 days of gasoil and jet fuel consumption and 39 days of gasoline, according to the Department of Climate Change, Energy, the Environment and Water. Long haul flows rise from the US At least eight tankers loaded in the US are currently en route to Australia, vessel tracking data from Vortexa show, comprising six gasoil cargoes and two gasoline shipments. Combined, the vessels are carrying more than 2.3mn bl of diesel and just over 600,000 bl of gasoline ( see table ). Three of the diesel cargoes were loaded at Phillips 66's 105,000 b/d Ferndale refinery on the US west coast, while one gasoline cargo was shipped from ExxonMobil's 612,000 b/d Beaumont refinery on the US Gulf coast and a gasoil cargo was loaded at Valero's 135,000 b/d Meraux refinery in the US Gulf. Two additional cargoes were loaded at ExxonMobil's 522,500 b/d Baton Rouge refinery with Vortexa showing both carrying gasoil, while Kpler data indicates the Medium Range tanker Nord Ventura is carrying jet fuel from the refinery to Australia. Another cargo was loaded at Chevron's 112,000 b/d refinery in Pasadena, Texas. Australia draws gasoil from Europe Australia is set to import a rare gasoil cargo loaded via ship-to-ship transfer in the Amsterdam-Rotterdam-Antwerp (ARA) region to replace lost Asian supply. The Long Range 2 (LR) tanker STI Solace is transporting 707,100 bl of gasoil to Botany Bay near Sydney for early May arrival, having loaded via ship-to-ship (STS) transfer from the 115,000dwt Oslo Star in the North Sea on 19 March according to Vortexa and Kpler. The STI Solace may have been chartered by ExxonMobil or BP, market sources said. The Oslo Star , also an LR2 tanker, had previously loaded 242,768 bl and 536,647 bl of gasoil from Kuwait's Al Zour and Mina Al Ahmadi refineries. The vessel traversed the strait of Hormuz on 22 February before heading through the Suez Canal toward northeast Europe, where it then discharged 125,796 bl of gasoil into Rotterdam storage prior to making the STS transfer. Asian supply remains constrained Arrivals of gasoil into Australia fell by nearly 1.47mn bl in March compared with January, Vortexa data show ( see graph: Australia middle distillates imports in 2026 ). Gasoline and jet fuel arrivals were down by 0.25mn bl and 1.85mn bl over the same period. April arrivals are on track to be even lower, with a particularly sharp drop expected in gasoil flows. Some late-April loadings could still reach the east coast before month-end, although sailing times from southeast and northeast Asia typically range between 10-20 days. Regional availability has tightened sharply since Beijing instructed refiners to halt exports of transportation fuels and Seoul imposed export caps limiting shipments to 100pc of their 2025 monthly levels. Lower refinery run rates across the Asia-Pacific have further reduced spot supply to Australian buyers. Delivered product prices into Australia have risen since the conflict began, with delivered US Gulf coast gasoil into Japan — an imperfect proxy for Australian delivered pricing from the US Gulf — showing strong gains. Freight costs would add a premium to any US Gulf cargoes bound for Australia. By Tom Woodlock Fuel shipments from US and Europe to Australia bl Product Volume ETA Vessel Loading point Discharge port Diesel 277,500 14-Apr Cape Andiamo Meraux, US Gulf Newcastle, NSW Diesel 175,700 19-Apr Atlantic Sunshine Ferndale, USWC Melbourne, Vic Diesel 293,900 20-Apr Maersk Cyprus Ferndale, USWC Brisbane, Qld Gasoline 300,000 20-Apr CL Zhaoge Beaumont, US Gulf Botany Bay, NSW Gasoline 316,200 24-Apr Hansa Sealancer Pasadena, US Gulf Botany Bay, NSW Diesel 24,600 24-Apr Hansa Sealancer Pasadena, US Gulf Botany Bay, NSW Diesel 323,500 27-Apr Betelgeuse Ferndale, USWC Brisbane, Qld Diesel 707,100 29-Apr STI Solace STS in ARA region Botany Bay, NSW Diesel 300,000 5-May Largo Eagle Baton Rouge, US Gulf Port Hedland, WA or Sydney, NSW Diesel or Jet Fuel 285,000 10-May Nord Ventura Baton Rouge, US Gulf Port Hedland, WA Source- Vortexa Australia middle distillates imports in 2026 Asia fuel crunch pushes Australia to US, Europe Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Northeast US diesel exports surge to Europe
Northeast US diesel exports surge to Europe
Houston, 31 March (Argus) — After historically jet fuel import-reliant New York briefly became a net exporter last week, traders have turned their attention to moving diesel cargoes across the Atlantic to satisfy European demand. A sharp rise in northwest European jet fuel prices this month triggered the first New York Harbor jet exports in nearly two years . With that arbitrage window opening, traders are now evaluating similar opportunities for ultra-low sulfur diesel (ULSD). German-Rotterdam fob barge 10ppm diesel typically trades at a discount to New York Harbor (NYH), but the pattern has flipped several times this month. As of Monday, northwest European diesel at $4.60/USG carried a 24¢/USG premium to New York Harbor values at $4.36/USG. Kpler tracking data showed six ULSD cargoes bound for Europe have departed NYH over the past six business days, with at least two additional vessels loaded and awaiting declared destinations as of Tuesday. Altogether, this emerging transatlantic diesel flow represents nearly 2mn bl of supply heading toward Europe from the northeastern US and represents the highest northeast diesel export figure since September 2024. By Craig Ross Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indonesia targets 50pc biodiesel blend in 2026
Indonesia targets 50pc biodiesel blend in 2026
Singapore, 30 March (Argus) — Indonesia will increase its biodiesel-fossil gasoil blend to 50pc (B50) this year, president Prabowo Subianto said during a state visit to Japan today. The development follows months of backtracking on the country's plans for its biodiesel mandate. The president in January gave a directive that Indonesia would maintain a B40 target for 2026 because of high costs of funding the mandate due to wide palm oil-gasoil (Pogo) spreads above $350/t. At the same time, the government raised palm product export levies by 2.5pc from March to fund biodiesel production. Ministry of energy and mineral resources director general Eniya Listiani Dewi said in late 2025 that B50 could be implemented by the second half of 2026 , subject to B50 road test results and other logistical bottlenecks. The government has likely revived interest in increasing to a B50 blending target because of the war in the Middle East, which has significantly narrowed the Pogo spread and disrupted oil supplies to Indonesia. The front-month Pogo spread between Bursa Malaysia crude palm oil (CPO) futures and Ice gasoil futures hit a 41-month low of a $292/t discount at 16:30 Singapore time (08:30 GMT) today. The B50 announcement also drove third-month CPO futures to a 15-month high of 4,778 ringgit/t ($1,186/t) at the same timestamp. Indonesia is also eager to further reduce its gasoil import dependence in the current volatile market. Indonesian plantation fund management agency BPDP funds the price gap between biodiesel and fossil gasoil using revenue from export levies on palm oil and related products. It delivers the funds to biodiesel producers under the public service obligation sector after they supply biodiesel to fuel distribution companies at the cost of regular gasoil. Fuel distributors then supply blended biodiesel and gasoil to consumers. By Malcolm Goh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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