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9 Pages

Europe downstream oil month in brief: Retail fuel margins hit by wholesale price rise, despite stronger euro


Europe downstream oil month in brief: Retail fuel margins hit by wholesale price rise, despite stronger euro

Report summary

Our European benchmark refining margins came off slightly in July, after setting new seasonal highs in June. Gasoline crack spreads were weaker across Europe in July, undermined by higher US runs and the restart of Leuna refinery in Germany. Stronger diesel/gasoil crack spreads were supported by the Pernis refinery outage in Germany and problems at the Greek Elefsis refinery. European retail fuel margins were down across most countries in July versus the previous month, as wholesale product prices increased for gasoline and diesel, whereas pump prices remained fairly stable. The impact of higher (dollar denominated) wholesale prices on the gross retail margin was somewhat mitigated by a stronger euro.  

What's included?

This report includes 2 file(s)

  • Europe downstream oil month in brief: Retail fuel margins hit by wholesale price rise, despite stronger euro PDF - 425.67 KB 9 Pages, 4 Tables, 12 Figures
  • Refining Margins.xls XLS - 307.50 KB

Description

This Refining and Oil Products Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an alternative point of view to help inform your decision making.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information.

Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

  • Margins
    • Refining margins
    • Fuels marketing margins
  • Demand
  • Recent M&A activity
  • Appendix

In this report there are 16 tables or charts, including:

  • Margins
    • NWE refining margins
    • Med refining margins
    • NWE gasoline/gasoil crack spreads
    • Med gasoline/gasoil crack spreads
    • Month average gross margins - July 2017
    • Month average net margins - July 2017
    • Germany gross marketing margins
    • United Kingdom gross marketing margins
    • France gross marketing margins
    • Italy gross marketing margins
  • Demand
    • Oil products demand in major European markets
  • Recent M&A activity
    • Recent transactions
  • Appendix
    • NWE jet/diesel versus gasoil
    • Med jet/diesel versus gasoil
    • NWE fuel oil crack spread
    • Med fuel oil crack spread
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