Gasoil Price OutlookEuropean Low Sulfur Gasoil prices have been recovering after hitting a multi-year low in January. In the past week’s prices have oscillated but have gained ground overall. On 9 September, gasoil traded at USD 399 per metric ton, which was up 4.0% from the same day in August and was 23.9% higher on a year-to-date basis. The price, however, was down 12.1% from the same day last year. Movements in gasoil prices in recent weeks have closely followed the evolution of crude oil prices. The increase in prices mainly reflects a drop in oil inventories. In addition, some upward pressure on oil prices has stemmed from expectations of a future freeze in oil production by OPEC members, even if in early September these pressures partially dissipated. Furthermore, recent downward movements in the USD exchange rate encouraged investors to benefit from a low USD to buy oil for speculative reasons.
Gasoil Price History Data (USD per metric ton)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Note: European Gasoil (0.2% maximum sulphur content), prices in USD per metric ton (mt). Prices are average of period (aop).
Gasoil Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities