Prices for European low sulfur gasoil averaged USD 743 per metric ton in April, down 5.1% from March’s price and 33.6% lower than in the same month last year. On 28 April, the fuel traded at USD 686 per metric ton, 9.8% lower than on the same day of the previous month.
In April, investor concerns continued to ease regarding shortages caused by sanctions on Russian diesel and strikes at refineries. The “crack spread”—the premium for gasoil over Brent, both delivered in December—narrowed for the third consecutive month to a 14-month low. Exports from the Middle East have compensated for lost Russian flows, while strikes at French refineries ended in early April.
This chart displays Gasoil (US$/mt) from 2021 to 2023.
European Gasoil 0.2% Sulfur (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| European Gasoil 0.2% Sulfur | - | 545 | 592 | 672 | 894 | 1,178 | 1,064 | 994 |