Fuel News

Benchmark diesel price drops for a third straight week

For the third week in a row, the benchmark average retail diesel price fell, down 14.8 cents a gallon over that period.

The latest price published by the Department of Energy/Energy Information Administration is $3.549 a gallon, down 3.3 cents a gallon from the prior week. It’s the lowest price since a $3.503 price published on the final Monday of 2024.

The retail price of diesel is lagging the continuing fall in the futures price of ultra low sulfur diesel on the CME commodity exchange so it may...

https://www.freightwaves.com/news/benchmark-diesel-price-drops-for-a-third-straight-week

Asia’s Low Sulfur Fuel Oil Margins Plunge to 19-Month Lows

  • Refining Margins Under Pressure as Supplies Surge, Demand Slumps.
  • Singapore’s Marine Fuel Crack Spread Hits Multi-Year Lows.
  • Weak Seasonal Demand Weighs on LSFO Market.

Asia’s low sulfur fuel oil (LSFO) refining margins have fallen to their lowest in more than 19 months, weighed down by high supply and poor downstream demand. The Platts front-month crack of Singapore marine fuel 0.5% sulfur to Brent crude was valued at $7.52 per barrel on March 10, following a decline to as low as $7.20 per...

https://mfame.guru/asias-low-sulfur-fuel-oil-margins-plunge-to-19-month-lows/

Benchmark diesel down over 11 cents in 2 weeks; refineries at risk?

Against a backdrop of falling asset prices virtually across the board, the benchmark diesel price used for most fuel surcharges fell for the second week in a row.

The weekly average retail diesel price posted by the Department of Energy/Energy Information Administration declined 5.3 cents a gallon to $3.582. 

Combined with last week’s drop of 6.2 cents a gallon, the price is now down 11.5 cents in just two weeks. It’s the biggest two-week decline since a Dec. 16-23, 2023, drop. It also puts the...

https://www.freightwaves.com/news/benchmark-diesel-down-over-11-cents-in-2-weeks-refineries-at-risk

Tariff impacts on diesel prices will likely hit New England first

New England will probably be ground zero for observing how a 10% tariff on Canadian crude and refined product exports to the U.S. hits prices at the pump.

While Mexico is also facing those tariffs, that country is mostly an exporter of crude to the U.S. Along with significant Canadian crude exports to the U.S., it may take an undetermined amount of time for imports on a raw material like crude to show up in a retail diesel or gasoline price. (Mexico’s tariff is 25%).

However, New England is...

https://www.freightwaves.com/news/tariff-impacts-on-diesel-prices-will-likely-hit-new-england-first

Benchmark diesel price heads lower as futures markets drop even more

The benchmark diesel price used for most fuel surcharges declined Monday, but it was the futures market where most of the big moves were taking place.

The weekly average retail diesel price posted by the Department of Energy/Energy Information Administration fell 6.2 cents a gallon, to $3.635. 

It’s the first decline in five weeks, and it is larger than the sum of the four increases that preceded it. The DOE/EUI price was $3.659 a gallon before the run of increases. It’s now 2.4 cents below that.

https://www.freightwaves.com/news/benchmark-diesel-price-heads-lower-as-futures-markets-drop-even-more

Diesel benchmark goes up a bit, again, as stability continues

A fourth consecutive week of a small move in the benchmark diesel price used for most fuel surcharges points to a market that could be either “steady as she goes” or in a state of torpor.

The Department of Energy/Energy Information Administration average weekly retail diesel price rose 0.2 cents a gallon, to $3.697. The previous three weeks had seen increases of 0.1 cents, 0.5 cents and 1.2 cents per gallon to tack on  3.8 cents a gallon during that time. 

The price is significantly higher than...

https://www.freightwaves.com/news/diesel-benchmark-goes-up-a-bit-again-as-stability-continues

EU Must Invest €40B Yearly in Clean Shipping Fuels, Experts Warn

  • €40 billion needed annually for clean shipping fuels in Europe until 2050.
  • Clean Maritime Fuels Platform urges EU action to scale up renewable fuel production.
  • Calls for regulatory support, public funding, and investment incentives to remove barriers.

The Clean Maritime Fuels Platform represents European shipowners and fuel suppliers. It is pushing for urgent investment in a European supply chain for clean shipping fuels. With an estimated €40 billion in annual investment needed to meet...

https://mfame.guru/eu-must-invest-e40b-yearly-in-clean-shipping-fuels-experts-warn/

El mercado diesel silencioso espera impactos posibles arancelos en el petróleo canadiense

Para un mercado que ha sido silenciado en sus cambios al alza y hacia abajo, se han desarrollado muchos movimientos en el fondo que, en última instancia, pueden tener un mayor impacto en el precio del petróleo y, por extensión, el precio del diesel. La falta de movimiento en el mercado diesel fue...

https://fullavantenews.com/el-mercado-diesel-silencioso-espera-impactos-posibles-arancelos-en-el-petroleo-canadiense/?lang=es

Quiet diesel market awaits potential tariff impacts on Canadian oil

For a market that has been muted in its up-and-down swings, there have been plenty of movements playing out in the background that ultimately may have a larger impact on the price of oil and by extension the price of diesel.

The lack of movement in the diesel market was driven home Tuesday by the latest release of the Department of Energy/Energy Information Administration average weekly retail diesel price. It roseby 1.2 cents a gallon to $2.677, meaning that in the past three weeks, the price...

https://www.freightwaves.com/news/quiet-diesel-market-awaits-potential-tariff-impacts-on-canadian-oil

LR and MMMCZCS Unveil Summary Report on Ammonia as Fuel Project

  • Ammonia is a promising alternative marine fuel but requires specialized training due to safety concerns.
  • New competency standards are needed for seafarers operating ammonia-powered vessels.
  • Updates to the IGF Code and other regulations are necessary to ensure safe use of ammonia as fuel.
  • Seafarers must acquire additional knowledge and skills beyond current frameworks, including understanding ammonia’s properties and safety protocols.

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping...

https://mfame.guru/lr-and-mmmczcs-unveil-summary-report-on-ammonia-as-fuel-project/

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