Commodity market report
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8 Pages

Europe downstream oil month in brief: Strong wholesale prices squeeze retail margins

Europe downstream oil month in brief: Strong wholesale prices squeeze retail margins

Report summary

Our Brent and Urals benchmark refining margins for Europe increased in October. Wholesale gasoline and diesel prices increased by 5% and 10% respectively in October reaching their highest value in 2016. Retail margins were mixed, as pump prices responded differently across various markets to wholesale price changes within the context of local competitive dynamics.

What's included?

This report includes 2 file(s)

  • Europe downstream oil month in brief: Strong wholesale prices squeeze retail margins PDF - 364.79 KB 8 Pages, 4 Tables, 12 Figures
  • Refining Margins November 2016.xls XLS - 294.00 KB


The downstream short-term outlook for the fuels marketing sector is influenced by many factors: oil product demand and supply, the market structure and the dynamic relationship between wholesale and retail pump prices for refined oil products in various markets.

This Europe downstream short-term outlook report provides an update of demand trends, refining margins, fuels marketing margins and recent European fuels marketing transactions.

The report is based on in-depth research about oil product demand, prices, margins and assets in various European markets and helps downstream operators, traders and financial institutions determine product trading strategies, benchmark their assets and identify attractive investment opportunities.

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.

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

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

  • Executive Summary
  • Margins
    • NWE refining margins
    • Med refining margins
    • NWE gasoline/gas oil crack spreads
    • Med gasoline/gas oil crack spreads
    • Month average gross margins - October 2016
    • Month average net margins - October 2016
    • Germany gross marketing margins
    • United Kingdom gross marketing margins
    • Spain 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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