Prices for European low sulfur gasoil averaged USD 966 per metric ton in September, up 6.5% from August’s price but 5.3% lower year on year. On 29 September, the fuel traded at USD 970 per metric ton, 7.2% higher month on month.
This strong rise was due in part to an increase in the price of crude oil, gasoil’s main ingredient. In addition, stockpiles of gasoil-type fuel are likely to fall in the coming months due to a number of factors—a move to lower-yielding lighter crude varieties due to output cuts by Russia and Saudi Arabia, unplanned refinery maintenance and a shift towards producing jet oil— pushing up prices.
This chart displays Gasoil (US$/mt) from 2021 to 2023.
European Gasoil 0.2% Sulfur (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| European Gasoil 0.2% Sulfur | - | - | - | 672 | 894 | 1,178 | 1,064 | 994 |