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Europe downstream oil in brief: pump prices keep climbing but why have retail fuel margins collapsed?

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18 June 2018

Europe downstream oil in brief: pump prices keep climbing but why have retail fuel margins collapsed?

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
    • Refining margins
    • Fuels marketingmargins

Tables and charts

This report includes 11 images and tables including:

  • Europe benchmark gross fuel margins and product prices
  • MED gasoline/gasoil crack spreads
  • MED refining margins
  • NWE gasoline/gasoil crack spreads
  • NWE refining margins
  • Month average gross margins - May 2018
  • United Kingdom gross marketing margins
  • France gross marketing margins
  • Germany gross marketing margins
  • Spain gross marketing margins
  • Recent fuels marketing transactions

What's included

This report contains:

  • Document

    Refining Margins.xls

    XLS 324.50 KB

  • Document

    Europe downstream oil in brief: pump prices keep climbing but why have retail fuel margins collapsed?

    ZIP 413.67 KB

  • Document

    Europe downstream oil in brief: pump prices keep climbing but why have retail fuel margins collapsed?

    ZIP 413.67 KB

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