Latest news with #diesel
Yahoo
2 hours ago
- Automotive
- Yahoo
The cheapest places to buy petrol and diesel in Haverhill
To help you get the best deal on your petrol or diesel, we've compiled a list of the cheapest garages in Haverhill, according to Petrol prices get its information directly from garages and users. These prices may not be the most up-to-date at the time of reading, but are correct at the time of writing based on the information available. Cheapest Unleaded in Haverhill - JET Haverhill (North Street Garage) 134.9p - JET Braintree (Westrope Motors (Haverhill) Ltd) 134.9p - Sainsbury's Haverhill 135.9p - Esso Haverhill (MFG Haverhill) 136.9p Cheapest Diesel in Haverhill - JET Haverhill (North Street Garage) 141.9p - JET Braintree (Westrope Motors (Haverhill) Ltd) 141.9p - Sainsbury's Haverhill 142.9p - Esso Haverhill (MFG Haverhill) 143.9p For the latest information, go to
Bloomberg
6 hours ago
- Business
- Bloomberg
Ambani's Reliance In Focus as EU Warns Refiners Using Russia Oil
The oil-procurement patterns of India's Reliance Industries Ltd. are coming under scrutiny after the European Union announced new restrictions on diesel made from Russian crude. Reliance bought Abu Dhabi's Murban crude in a rare purchase late last week, traders said, adding that it picked up the cargo soon after Friday's sanction package. The private refiner isn't a regular buyer of the UAE grade, a premium crude that tends to be costlier than its regular appetite of Russian Urals and heavier Middle Eastern varieties.
Reuters
9 hours ago
- Business
- Reuters
Second tanker to skip fuel lifting from sanctions-hit Nayara, sources say
SINGAPORE/NEW DELHI, July 23 (Reuters) - A tanker will not load fuel from India's sanctions-hit Nayara Energy refinery as scheduled, according to three industry sources and LSEG shiptracking data, becoming the second such vessel to change plans following the European Union strictures. Nayara Energy, which is partly-owned by Russia's largest oil producer Rosneft ( opens new tab, fell foul of a fresh package of sanctions imposed on Friday by the European Union over Russia's war on Ukraine, begun in February 2022. The Chang Hang Xing Yun is now tentatively set to load about 35,000 metric tons (260,750 barrels) of ultra-low sulphur diesel from Kuwait on August 1 before heading to east Africa, according to data from LSEG shiptracking and a shipping source on Wednesday. It was previously scheduled to load about 35,000 tons of diesel from July 29 to 31 at Nayara Energy's Vadinar port, with the cargo bound for either Southeast Asia or Chittagong in Bangladesh, chartered by PetroChina, Reuters had reported. Petrochina and Nayara Energy did not immediately respond to requests for comment. The ship was still positioned off the west coast of India on Wednesday. Earlier, the tanker Talara chartered by BP left Nayara Energy's Vadinar port without loading, Reuters reported on Tuesday. On Monday, Nayara Energy said it condemned the EU's "unjust and unilateral" decision to impose sanctions on it, while India also has said it did not support the bloc's sanctions.
Yahoo
20 hours ago
- Business
- Yahoo
Full circle: benchmark retail diesel price is about where it was a year ago
The benchmark price of retail diesel is just about where it was a year ago, having recouped all of the lower numbers posted since the middle of July 2024. The Department of Energy/Energy Information Administration's average weekly retail diesel price rose 5.4 cents/gallon Monday, published Tuesday, to $3.812/b. It marked the seventh increase in the last eight weeks for the price that is the basis for most fuel surcharges. Those increases have added 36.1 cts/g to the price published June 2, after which the 7 out of 8 increase sequence began. The latest price is also the highest in just over a year. On July 15, 2024, the DOE/EIA price was $3.826. Every price since then has been less than the $3.812/g published Tuesday. The increase in diesel prices can only be partly attributed to a rise in the price of crude. And crude has gone up: it settled June 2 at $64.63/barrel on the CME commodity exchange, and by the settlement Monday was up to $69.21/b. It has crossed the $70/b mark for a settlement a few times during that stretch. But that increase is just 7%. Meanwhile, the price of ultra low sulfur diesel on the CME commodity exchange is up 22.7% during that time, settling Monday at $2.5092/g compared to a June 2 settlement of $2.0445/g. During those two parallel yet different tracks, the front month ULSD price on CME has blown out to a diesel/Brent spread of more than 85 cts/g. On June 2, that spread was about 50 cts/g. A chart released by the consulting firm Energy Aspects, in its monthly report on middle distillates–which includes diesel–tells a great deal of the story about why diesel is outpacing gains in crude. While the data behind the chart was available only to subscribers, the chart clearly shows that global inventories of diesel are well below last year. But more importantly, they are also well below the five-year average for this time of year, and have been for several months. An article published by Bloomberg Monday notes the specifics: that U.S. diesel stockpiles are 'sitting at the lowest levels since 1996 for this time of year.' The EIA publishes its weekly data on all inventories each Wednesday. Historically low While U.S. inventories of ultra low sulfur diesel rose almost 5 million barrels in the week ended July 11 to 98.2 million barrels, they were still more than 4% below the smallest total for the second week in July in the last 10 years, and below most other weeks by a far greater amount. The calendar may say July, but it's close enough to cooler weather that the tight diesel market is beginning to talk about winter. Heating oil is a distillate, like diesel, and as winter looms and distillate molecules are increasingly turned into heating oil at the expense of diesel, there is a risk that the low inventories in the diesel market have already squandered a chance to recover. Bloomberg quoted Samantha Hartke, Americas head of market analysis at Vortexa, as saying the diesel market 'feels like a vicious cycle. 'If stocks aren't up in a few months, you're setting up for a tight winter, which then rolls into next year with turnaround season in the spring of 2026.' Turnaround is the season, both in the fall and spring, when heavy refinery maintenance is undertaken and operating rates temporarily decline. The Bloomberg article–and other commentary–noted a wide range of reasons for the growing tightness of diesel supplies. New sanctions on Russia are being levied against that country, which is a major diesel exporter. Wildfires in Canada and Venezuela have affected exports from those two countries, whose slate of crude sold into the market is heavy and generally rich in a diesel yield when it is refined. Refiners are moving more of their distillate feedstocks into producing jet fuel, where market demand has been strong. But that comes at the expense of making diesel. Refinery closures around the world also have a role. And while the closures impact gasoline as well, all major supply/demand models have been reporting for months that gasoline demand on the margin has been weakened by the gradual increase in the automobile fleet made up of electric vehicles. That isn't the case for diesel. But changes in refinery operations to compensate for that shift can't be made overnight. 'This is a long-term shift based around refining capacity and product ratios,' Joe DeLaura, global energy strategist at Rabobank, was quoted as saying by Bloomberg. 'A refinery cannot make diesel without first making gasoline, and it takes capital and time to retool that process.' More articles by John Kingston Oregon ties itself closer to California's Advanced Clean Trucks rule, even though it may have no future Yet another broker liability case, this time in the Fifth Circuit, adds to the growing mix Much happened at Triumph Financial during the quarter; USPS dispute settled The post Full circle: benchmark retail diesel price is about where it was a year ago appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Automotive
- Yahoo
Western Europe's diesel car share close to falling below 10% in June
The region lost another 50k of diesel sales compared to June 2024, bringing the deficit in H1 of this year to 210k units. June's diesel share of new car sales, with just Greece data not available at the time of writing, was 10.7% - the lowest value seen so far since diesel began its long decline. Six of the 17 markets included in this analysis now have diesel shares below 5% while 11 have shares below 10%. Germany's diesel market remains more than twice as large as the second placed country (Italy) but is now starting to fall significantly, dipping below a 20% share in June and losing 20k units of diesel car sales versus June 2024. A key underlying reason is of course the requirement to work towards meeting the stricter EU CO2 target which, though now averaged over the years 2025-2027, has precipitated an uptick in the region's plug-in market so far this year. To June, BEV sales across Europe are up 30%year-on-year. After being broadly similar through 2023 and 2024, BEV sales have finally opened up a clear lead over diesel, spurred on by the changing EU CO2 regulatory framework. It seems unlikely that diesel could ever outsell BEV from this point forward. This article was first published on GlobalData's dedicated research platform, the . "Western Europe's diesel car share close to falling below 10% in June – GlobalData" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
