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Europe downstream oil in brief: pump prices keep climbing but why have retail fuel margins collapsed?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Our monthly benchmark gross retail fuel margin for Europe declined further in May, reaching a five year low. Steadily rising crude prices have supported higher wholesale gasoline and diesel prices but fuel retailers have struggled to pass on these increases to the end-consumer. Our North West Europe (NWE) Brent gross refining margin increased in May driven by stronger product cracks, apart from jet. On the other hand, the Med Urals FCC gross refining margin weakened as demand for Urals crude increased when refineries returned from maintenance. Product prices lagged behind the increase in crude price in May which resulted in weakening cracks across the barrel with the exception of fuel oil.
Table of contents
- Retail fuel margins reach five-year low as high oil prices and weak demand take a toll
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Margins
- Refining margins
- Fuels marketingmargins
Tables and charts
This report includes the following images and tables:
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Europe benchmark gross fuel margins and product pricesMED gasoline/gasoil crack spreadsMED refining margins
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NWE gasoline/gasoil crack spreadsNWE refining marginsMonth average gross margins - May 2018United Kingdom gross marketing marginsFrance gross marketing marginsGermany gross marketing marginsSpain gross marketing marginsRecent fuels marketing transactions
What's included
This report contains:
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