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.
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|