Insight
Downstream oil in brief: is European fuel duty revenue set to decline?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Fuel duties are levied on purchases of diesel, gasoline and a variety of other fuels. They represent a significant source of government revenue, estimated at just short of EUR 200 billion for the EU countries combined in 2019. The end pump price is primarily driven by the taxes placed on road transport fuels and in most European countries it accounts for over a third of the fuel cost. As the energy transition takes hold, road transport fuel demand is set to decline beyond 2020. This poses a risk to valuable government revenue, and it stands to question how this gap will be filled.
Table of contents
- How is fuel duty evolving?
- Why is Romania going against the current trend?
- What is the outlook for fuel duty revenue?
- Summary
- Brent FCC margins hit unsustainable lows as gasoline and middle distillate cracks crashed despite refinery outages offering some price support
- The eurozone's manufacturing sector contracted for the eleventh consecutive month, impacting diesel demand and retail margins
Tables and charts
This report includes the following images and tables:
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Romania gasoline retail fuel price breakdown 2019Romania diesel retail fuel price breakdown 2019European vs Romanian outlook for road transport fuel demand
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NWE refining marginsNWE gasoline/gasoil crack spreadsMED refining marginsMED fuel oil crackGross marketing margins December 2019Romania gasoline gross marketing marginsRomania diesel gross marketing marginsFrance gasoline gross marketing marginsFrance diesel gross marketing margins
What's included
This report contains:
