Insight
Downstream oil in brief: Europe’s taxing love affair with diesel
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The price advantage diesel has enjoyed over gasoline for many years in Europe is being steadily eroded. The price differential between these grades has progressively narrowed , reaching a ten-year low in early 2019. Much of this change is being driven by governments across Europe who are progressively increasing the duty on diesel relative to gasoline. Additionally, we expect the IMO bunker fuel specification change in 2020 to exacerbate the situation as it poses an upside risk to diesel pump prices in the coming months. In addition to the government led more away from diesel, there has also been a major shift in consumer preference. Growing concerns around particulate emissions from diesel engines, fuelled by the 'dieselgate' car emissions fraud scandal, have seen diesel car sales in Europe plummet. As such, gasoline and alternatively powered vehicles are filling the gap and gaining popularity.
Table of contents
- The beginning of the end for retail diesel in Europe?
- What role does changing biofuel legislation have to play?
- Is this the end of Europe’s love affair with the diesel car?
- An oil change for Belgium: diesel is out, gasoline and biofuels are in
- The IMO impact: stormy seas ahead for diesel pump prices
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Margins
- Refining margins
- Fuels marketingmargins
Tables and charts
This report includes the following images and tables:
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Diesel pump price advantage*Diesel duty changeBelgium retail pump price
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Belgium new car registrationsMED gasoline/gasoil crack spreadsMED refining marginsNWE gasoline/gasoil crack spreadsNWE refining marginsWeighted average gross marginsFrance gross marginsSpain gross marginsGermany gross margins
- 2 more item(s)...
What's included
This report contains:
