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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 563.00
+121.00
1 400.00
+20.00
Oct 12
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 563.00	+121.00	1 400.00	+20.00	Oct 12

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
734.26	+8.59	859.79	+7.43	1 526.30	+12.84	Oct 14

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MABUX Market Differential Index (MDI)

Correlation between market bunker prices (MBP) and MABUX Digital Bunker Price Benchmark (DBP)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	670	728	-58	750	825	-75	1 400	1 608	-208	Oct 14
Singapore	845	770	+75	911	947	-36	1 270	1 601	-331	Oct 14
Fujairah	738	716	+22	990	887	+103	1 700	1 664	+36	Oct 14
Houston	570	685	-115	760	813	-53	1 418	1 563	-145	Oct 14

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Digital Bunker Prices
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Analytical Section
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Latest News
- 2026-10-14
  Brent crude choppy as Hormuz strikes, Houthi attacks spur supply uncertainty
  Oil prices were volatile on Wednesday, as ships were once again targeted in the Strait of Hormuz and renewed fighting between Saudi Arabia and Yemen’s Houthis spurred more concerns over supply disruptions in the Middle East. Get more insights on crude... Read more Oil prices were volatile on Wednesday, as ships were once again targeted in the Strait of Hormuz and renewed fighting between Saudi Arabia and Yemen’s Houthis spurred more concerns over supply disruptions in the Middle East. Get more insights on crude markets and the Middle East conflict with InvestingPro - now 55% off
  
  Brent oil futures dipped 0.2% to $105.50 a barrel by 09:11 ET (13:11 GMT), retreating from earlier gains. U.S. West Texas Intermediate crude futures rose 1.4% to $95.43 per barrel.
  
  Shipping through the Strait of Hormuz also remained constrained after reports this week said more ships have been hit by missiles while attempting to cross the waterway. The United Kingdom Maritime Trade Operations authority said at least two ships were struck in Hormuz on Tuesday.
  
  Iran has largely shuttered Hormuz for months in response to a joint U.S.-Israeli assault which began in late February, cutting off a shipping conduit through which roughly a fifth of the world’s oil and liquefied natural gas flowed before the war.
  
  Iran is preparing to deploy new tactics to target vessels in Hormuz as part of a bid to keep oil prices elevated ahead of the U.S. midterm elections in November, according to Reuters.
  
  Polls have suggested that candidates from U.S. President Donald Trump’s Republican Party may face voter backlash to a recent energy shock spurred on by the Iran war. A run-up in oil prices in September is also likely to contribute to a "strong" reading of the month’s U.S. consumer price index due out later today, analysts at Deutsche Bank said in a note.
  
  Meanwhile, worries have abounded that the fighting in the Middle East is now spreading beyond Iran, potentially further constraining Gulf oil supplies.
  
  Yemen’s Iran-backed Houthis launched a wave of missiles at Saudi Arabia on Tuesday, targeting major cities, as well as state-owned company Saudi Aramco’s facilities. Aramco’s headquarters in Dhahran were struck in the latest attacks, although only a limited fire was reported in the facility.
  
  Earlier this week, Saudi authorities temporarily shuttered operations at Riyadh’s international airport following recent strikes.
  
  The Houthis have ramped up their targeting of Saudi infrastructure in recent weeks. Saudi-led coaltion government forces in Yemen launched a new offensive earlier this month aimed at retaking Houthi-controlled areas of the country, including territory dominating the Bab el-Mandeb Strait, a critical oil shipping chokepoint.
  
  Elsewhere, investors were monitoring oil production in the U.S. Gulf Coast, after the region was battered by a hurricane that saw over 60% of production taken offline. Source: Investing.com
- 2026-10-14
  SIBCON 26: Adoption of ISO 8217:2024 fuel specification remains very slow
  Speaking on the opening panel of today’s SIBCON Pre-Conference Symposium, Capt Rahul Choudhuri, Chair of the Technical Committee for Bunkering (Ambient Liquid Fuels) on the Chemical Standards Committee and President, Strategic Partnerships at VPS, estimated... Read more
- 2026-10-14
  First LNG bunkering for Axpo in Valencia
  Axpo has announced the completion today (13 October) of its first LNG bunkering operation in the Port of Valencia, Spain. The fuelling saw Alisios – the Axpo-chartered 12,500 cubic metre (cbm) LNG bunker vessel that was launched in Huelva earlier this... Read more
- 2026-10-14
  Bluecore Energy secures uranium for proposed floating nuclear power system
  Nuclear start up Bluecore Energy has announced that it has purchased low-enriched uranium (LEU) through WMC, as the Port of Long Beach headquartered firm continues to develop its first water-cooled floating nuclear power system. In a statement issued... Read more
- 2026-10-14
  Diesel supply constraints are a much bigger influence on prices than US-Russia deal – Wood Mackenzie
  Diesel supply constraints caused by a collapse in Russian exports following Ukrainian drone strikes are a much bigger influence on prices than Trump’s US–Russia diesel deal, according to Wood Mackenzie. Earlier this week (9 October), the US Treasury’s... Read more
- 2026-10-14
  GoVerde Energia advances e-methanol project at the Port of Suape
  Brazilian energy transition company GoVerde Energia has announced progress on its e-methanol production project, located inside the Suape Industrial Port Complex, in the municipality of Cabo de Santo Agostinho, Pernambuco state, around 35 kilometres from... Read more
- 2026-10-14
  MPA unleashes a flurry of bunkering announcements at SIBCON
  The opening day of the 24th Singapore International Bunkering Conference (SIBCON) saw a raft of bunker-related announcements from the Maritime and Port Authority of Singapore (MPA) – including the launch of a new Technical Reference for Ammonia Bunkering;... Read more
- 2026-10-14
  Singapore sees dip in monthly marine fuel sales
  The 4,726,400 metric tonnes (mt) of bunkers – including alternative marine fuel – that was sold in Singapore last month marked a 1% year-on-year (y-o-y) decline on the 4,771,900 mt that was sold in September 2025. September’s total was also marginally... Read more
- 2026-10-14
  Oil prices climb as traders weigh Saudi supply risk, Russian diesel flow
  Oil prices climbed on Wednesday as traders weighed supply risk from fighting between Yemen’s Iran-allied Houthis and Saudi Arabia against the prospect of increased diesel from Russia. Brent crude futures rose 89 cents, or 0.8%, to $106.58 a barrel... Read more Oil prices climbed on Wednesday as traders weighed supply risk from fighting between Yemen’s Iran-allied Houthis and Saudi Arabia against the prospect of increased diesel from Russia.
  
  Brent crude futures rose 89 cents, or 0.8%, to $106.58 a barrel by 0030 GMT, while US West Texas Intermediate crude futures gained 80 cents, or 0.9%, to $94.94. Brent fell 0.9% on Tuesday, while WTI rose 0.4%.
  
  "Supply concern stemming from conflict between the Houthis and Saudi Arabia is driving prices higher," said chief strategist Hiroyuki Kikukawa at Nissan Securities Investment, a unit of Nissan Securities.
  
  "However, the expectation that increased Russian diesel exports will ease market tightness is likely to limit sharp price movement in either direction," Kikukawa said, projecting WTI to trade between $90 to $100 a barrel.
  
  The Houthis attacked an administrative building belonging to state-owned oil firm Saudi Aramco in the city of Dhahran, causing a limited fire, Saudi Arabia’s energy ministry said on Wednesday.
  
  The group has fired ballistic missiles and drones at Saudi Arabia over the past week in retaliation for the kingdom’s support of Yemeni government forces. Riyadh’s international airport has been hit four times, with a strike on Saturday killing 13 people.
  
  Last month, Saudi Arabia raised oil production despite disruption to shipments caused by the US-Iran war, leading to a sharp production increase from OPEC+ — the Organization of the Petroleum Exporting Countries and partners including as Russia — OPEC said on Tuesday.
  
  Iran is deploying new tactics to target ships in the Strait of Hormuz to keep oil prices high and influence US midterm elections, two senior Iranian officials told Reuters.
  
  In Russia, the government said on Tuesday it did not see any direct link between peace talks with Ukraine and its deal to export diesel to the US.
  
  The comment came after Reuters reported that US envoys had told Ukrainian officials on Friday that the deal was part of an attempt to draw Russia back to negotiations for a peace settlement. Source: Reuters/Investing.com
- 2026-10-14
  Why Diesel Prices Are So Much Higher Than Gasoline
  There was a time when diesel fuel was usually cheaper than gasoline in the United States. That relationship began to change about 20 years ago, and since then diesel has generally traded at a premium. Today, that premium is not just persistent but unusually... Read more There was a time when diesel fuel was usually cheaper than gasoline in the United States. That relationship began to change about 20 years ago, and since then diesel has generally traded at a premium. Today, that premium is not just persistent but unusually large, which raises an obvious question: how did we get from gasoline typically costing more than diesel to diesel costing substantially more than gasoline?
  
  The answer has two parts. The first is structural and goes back to the mid-2000s, when changes in fuel specifications, taxes, refining economics, and global demand fundamentally altered the relationship between gasoline and diesel prices.
  
  The second is more immediate. In 2026, refinery disruptions, geopolitical conflicts, low inventories, and reduced exports from major suppliers have pushed the global diesel market into an unusually tight position. Understanding the difference between those long-term and short-term forces explains both why diesel usually costs more and why the gap is so large right now.
  
  Diesel Was Once The Cheaper Fuel
  
  Before the mid-2000s, diesel was often cheaper than regular gasoline in the United States. There were exceptions, particularly during cold winters when heating-oil demand strengthened, but the longer-term pattern generally favored diesel. That began to change around 2004, and according to the Energy Information Administration, on-highway diesel prices have been higher than regular gasoline prices almost continuously since September of that year.
  
  That shift is clearly visible in the historical data I examined in my 2023 article on the subject. In the decade before 2005, gasoline generally traded at a small premium to diesel. After that, the relationship reversed, and diesel became the more expensive fuel in most years. The timing is important because it coincided with a major change in the way U.S. refiners had to produce highway diesel.
  
  Ultra-Low-Sulfur Diesel Changed The Economics
  
  Beginning in the mid-2000s, U.S. refiners had to dramatically reduce the sulfur content of highway diesel. That was an important environmental improvement because sulfur emissions contribute to air pollution and acid rain, but it also made diesel more expensive to produce. Refineries invested billions of dollars in new hydrotreating and sulfur-removal equipment, and those investments increased capital and operating costs and made compliant diesel more expensive to produce and distribute.
  
  My earlier article focused heavily on this transition because the timing lines up closely with the point at which diesel’s historical discount disappeared. EIA now describes the persistent diesel premium as the result of several factors working together, including strong global demand for diesel and other distillates, the higher cost of producing low-sulfur diesel, and federal taxes that are six cents per gallon higher on diesel than on gasoline.
  
  None of those factors explains every short-term price movement, but together they created a structural premium that had not existed to the same degree before 2004. Once diesel became more expensive to produce and more tightly linked to global distillate markets, the old relationship with gasoline never really returned.
  
  Diesel Became A Global Commodity
  
  Another important change has been the globalization of the diesel market. Gasoline is also traded internationally, but diesel and other middle distillates occupy an especially important role in the global economy because they power trucking, agriculture, construction, mining, shipping, industrial equipment, and heating systems. Strong demand in Europe, China, India, and the United States has kept pressure on global distillate balances for years.
  
  That means U.S. diesel prices are increasingly influenced by events far beyond U.S. borders. Even when domestic production is strong, refiners can export diesel into higher-priced international markets, tying domestic prices more closely to global supply and demand. This is one reason it is misleading to look only at U.S. crude oil production and assume that abundant domestic oil should automatically translate into cheap diesel.
  
  The United States can produce plenty of crude while still facing tight supplies of refined products. Crude oil has to be processed in the right refineries, into the right products, and then moved through the right transportation system. Those constraints matter just as much as the amount of oil coming out of the ground.
  
  2022 Showed How Quickly The Premium Can Explode
  
  The most dramatic recent example came in 2022, when Russia’s invasion of Ukraine disrupted global energy markets. Diesel was hit particularly hard. Russia was a major supplier of crude oil, refined products, and feedstocks to Europe and other markets, so sanctions and trade restrictions forced a rapid reshuffling of global flows. Gasoline prices rose sharply as well, but diesel supplies tightened even more, pushing the diesel premium to record levels.
  
  In my earlier article, I noted that the gasoline-diesel spread reached a record in 2022. At the time, the disruption from Russia explained why a structural premium suddenly became an extreme one. The market eventually adjusted as trade routes shifted, refinery operations stabilized, and inventories recovered, but that normalization did not last.
  
  Why The Gap Is So Large Again In 2026
  
  The current situation resembles 2022 in one important respect: global diesel supply has again been disrupted more severely than gasoline supply. EIA recently reported that global distillate supplies are tight because of reduced refining activity in Russia, China, and the Middle East. At the same time, U.S. refiners have been running near maximum utilization, with domestic distillate production averaging about 5.1 million barrels per day through August, the highest level since 2019.
  
  That point is worth emphasizing because it shows that the current problem is not simply a collapse in U.S. refinery output. American refiners are producing large volumes of diesel, but global demand for those barrels has increased at the same time that supplies elsewhere have fallen. As exports increased, U.S. inventories declined, and by mid-September distillate inventories were about 13% below the five-year seasonal average even though summer is normally a period when inventories build ahead of winter.
  
  Since then, the global situation has become even tighter. Russia has restricted diesel exports as refinery infrastructure has been damaged, China has curtailed fuel exports to protect domestic supplies, and Middle Eastern refining and shipping have been disrupted by the conflict involving Iran. Tanker costs and insurance rates have also risen, making it more expensive to move refined products around the world.
  
  The result is a global scramble for middle distillates. Both gasoline and diesel are affected by higher crude prices, but diesel is being squeezed more severely because the product itself is in shorter supply relative to demand. That is why the diesel-gasoline spread has widened so dramatically.
  
  The Price Gap Is Now Extraordinary
  
  As of October 5, the national average price of on-highway diesel was $6.199 per gallon, compared with $4.354 for regular gasoline—a spread of about $1.85 per gallon. Diesel reached a nominal record of $6.29 per gallon in September, according to EIA, and remained above $6 nationally in early October.
  
  That gap is not primarily the result of a sudden increase in diesel taxes or some new change in fuel specifications. Those structural factors help explain why diesel usually costs more than gasoline, but they do not explain why the premium is so large today. The current premium reflects a very tight global distillate market layered on top of the long-term changes that already made diesel the more expensive fuel.
  
  That distinction is important because it separates the underlying reason diesel normally carries a premium from the temporary forces that can cause that premium to explode.
  
  Refining Margins Are A Consequence, Not A Cause
  
  Refining margins have risen sharply, and major refiners are benefiting from the tight market. But those high margins are a consequence of constrained diesel supply relative to demand rather than the original cause of the shortage.
  
  When refinery capacity is disrupted, exports are curtailed, and inventories fall, the value of the remaining barrels rises. Refiners that can continue producing diesel benefit from that scarcity, but the scarcity comes first. This distinction is important because high margins are sometimes cited as evidence that refiners decided to raise prices, when in reality the margin expansion is largely the market’s response to a shortage of refined product.
  
  Diesel Is A Different Market Than Gasoline
  
  The broader lesson is that gasoline and diesel may come from the same barrel of crude oil, but they are not interchangeable products. They serve different markets, have different seasonal demand patterns, require different processing, and face different global supply pressures. A refinery cannot simply turn every barrel of crude into whichever product happens to be most expensive that day because refinery configuration, crude quality, product specifications, and physical operating limits all constrain what can be produced.
  
  That is why abundant crude oil does not guarantee cheap diesel. The United States can produce record amounts of oil, run refineries near capacity, and still face expensive diesel if global product markets remain tight.
  
  Twenty years ago, gasoline was often the more expensive fuel. Then diesel moved to a structural premium, and today that premium has widened dramatically because the global market for diesel and other middle distillates is again under severe strain. Until those supply constraints ease, diesel is likely to remain much more expensive than gasoline. Source: Oilprice.com

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