Latest news with #diesel
LBCI
3 hours ago
- Business
- LBCI
Fuel prices rise in Lebanon, gas remains unchanged
On Friday, June 20, 2025, the prices of 95-octane and 98-octane gasoline increased by LBP 37,000 and LBP 36,000 respectively, while diesel prices rose by LBP 39,000. The price of gas remained unchanged. The current prices for hydrocarbon derivatives are as follows: Gasoline 95 octane: LBP 1,545,000 Gasoline 98 octane: LBP 1,584,000 Diesel: LBP 1,456,000 Gas canister: LBP 897,000
CTV News
5 hours ago
- Business
- CTV News
Price of gas, diesel increases in Maritimes
Atlantic Watch The price of gasoline and diesel increased significantly in all three Maritime provinces.
Bloomberg
18 hours ago
- Business
- Bloomberg
Diesel Passes $105 a Barrel on Mideast Worry and Key Spreads Rip
By and Alex Longley Save Diesel soared for a fifth day — topping the equivalent of $105 a barrel in Europe — with spreads that traders view as measures of market strength spiraling higher. Concern about imports from the Middle East, where Israel's conflict with Iran is roiling wider oil markets, is compounding what was already a tight market. Europe has become increasingly reliant on the region's fuel since losing Russian supply.
Zawya
a day ago
- Business
- Zawya
Mideast conflict turbocharges diesel prices, squeezing Europe: Bousso
(The opinions expressed here are those of the author, a columnist for Reuters.) LONDON - The Israel-Iran conflict has boosted global diesel prices, with gains outstripping the jump in crude prices, highlighting the vulnerability of diesel-heavy European consumers even as the region's refiners get a windfall. Benchmark Brent crude prices have risen by 10% to over $76 a barrel since the start of the Israel-Iran war on June 13, reflecting investor concerns about potential disruption to supply in the Middle East, particularly issues related to the Strait of Hormuz, a narrow waterway between Iran and Oman, through which around a fifth of the world's crude oil and refined products passes. Speculation over whether U.S. President Donald Trump will join Israel's campaign has further amplified concerns about escalation that could potentially lead to a global energy shock. Amid the turmoil, benchmark diesel prices have rallied, particularly in Europe. Benchmark European ICE Low Sulphur Gasoil prices have gained nearly 15% since June 12. The past days' rally built on strengthening diesel prices in recent months on the back of robust global demand and low inventories in Europe and the United States. The Middle East is a major exporter of diesel, shipping 831,000 barrels per day in 2024, roughly 17% of global diesel seaborne imports, according to analytics firm Kpler. The majority of exports come from Kuwait, the United Arab Emirates and Saudi Arabia, which have all been investing in expanding export-oriented domestic refining capacity in recent years. Diesel, which is used for private and commercial transportation in Europe as well as industrial purposes, accounted for 44% of the region's overall oil demand of 13.5 million bpd in 2024, according to the International Energy Agency. Europe's imports of the refined fuel exceeded 1.2 million bpd last year, or roughly a fifth of the region's total diesel consumption, according to the IEA. This dependence on diesel imports has left European consumers and businesses highly vulnerable to a disruption in global diesel shipments – which markets fear we could soon see. On the other hand, the price spike has been good news for European oil refiners. European diesel refining margins have risen by over 30% since the Israel-Iran conflict began, their highest in more than 14 months, according to LSEG data. This is notable given the simultaneous increase in crude prices, as refining margins typically move inversely to feedstock prices. This time around, however, European refiners are benefitting from the fact that diesel price gains have outpaced those for crude. RUSSIA LOOPHOLE While the Middle East tensions are shaking up Europe's short-term diesel price outlook, the market also faces the potential for long-term turbulence. Europe's diesel market underwent a fundamental shift after the European Union and Britain banned Russian oil imports into the region in the wake of Moscow's invasion of Ukraine in February 2022. The share of Russian diesel in the region's imports dropped from 40% in 2022 to less than 1% last year, according to Kpler data. Russian diesel imports were replaced with purchases from the Middle East, Turkey and India. But these 'substitutes' sometimes represented refined Russian crude, particularly diesel from India, which benefitted from the fact that Western sanctions limited the price of Russian oil exports. Now, the European Union is seeking to close this loophole with a proposal to ban imports of refined products produced from Russian oil. Such a ban would be hard to monitor and implement since refiners typically use a blend of crude grades as feedstock, making it almost impossible to determine the exact source of the refined product. The European diesel market is thus facing both short- and long-term uncertainties, meaning significant volatility in pricing and refining margins is likely for the foreseeable future. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn and X. (Ron Bousso; Editing by Nia Williams)
Top Gear
2 days ago
- Automotive
- Top Gear
Skoda Superb Estate - long-term review - Report No:3 2025
But the 2.0-litre diesel suits this work. It's been refined and sorted for years. It might only have 190bhp (193PS in European), but there's 295lb ft of torque (400Nm) on offer between 1,750 and 3,250rpm, which is exactly where you need it. A 0-62mph time of 7.6 seconds is in the sweet spot of fast enough, and although a top speed of 142mph is largely irrelevant, it means that a continental cruise on an Autobahn or 80mph Autoroute will be easy pickings. A fact reinforced by 57mpg if you're doing UK 70mph speeds. The Superb is supposed to get 47mpg combined, but in a big turn up for the books, and a devastating indictment of my grandparent-style driving, I'm actually getting over 50. I don't really use Sport mode and have a habit of clicking the car into Eco for the 50mpg per tank extra that it provides. Sorry, but when you pay for your own diesel… It's funny, but when you actually look forward to doing a bit of driving or using a car to its fullest, you know something's going well. And yes, I'm fully aware that constantly singing the praises of a 2.0-litre diesel estate car is a bit dull, but age is knowing what's good and caring less about what's supposed to be cool. Although saying that in a world of MHEVs and hybrids, electric SUVs and small-capacity turbo engines is lauding what appears to be a throwback. The seven-speed auto works very well, sorting gears with minimum fuss, even if it's not the absolute last word in deftness on the odd upchange. You can use the paddles - which I do on the odd cross country lope - but really, it's more about sitting back and letting the car take the strain. And again, the four-wheel drive system only kicks in with any authority when the front wheels have raised concerns, be that off-road or on. Saying that, I've been consistently surprised that the Superb can find a bit of grip on a wet grass field without any trouble. If you're on-road, you'll find that the whole thing is stable and consistent, but tends towards early onset understeer and a gentle kind washing out, like it's forgotten where the apex of a corner once was. Nothing to be concerned about, but the racier humans in the office would call it boring. Boring is good - boring is what you want on late night drives in the rain. Interestingly, the 'progressive dynamic steering' seems to blend very nicely - you rarely notice much difference unless you concentrate. There's enough feel at speed and no muscle required when parking, so something's right. There's a slight raised eyebrow at the ride at times, mind. We've got this car on the smaller wheels and Pirelli Sotto Zero winter tyres - and yes, I'll run them in warmer weather and don't care - so there's a touch more sidewall. But get a big enough pothole or series of lateral ridges and you'll still get a proper jiggle from the suspension. More a commentary on my local roads, but it's wise to note that this isn't limo-like at all times. It does stay level and true no matter what's in the back though, and I've had it absolutely stuffed full of gear thanks to university-bound spawn. Have to say though, it's the little things. The multiple hooks in the boot, plus 12-volt charging points both sides, the ability to drop the rear seats from the boot via the levers in the same panel. The actual spare wheel. The extra nets for stowage. The little umbrella in the door cubby, the centre console that houses a sunglasses holder and screen wiping block, the clear tag in the windscreen that holds a parking ticket. The fact that you can switch off the speed limit warning bongs and lane-keep assist quickly and easily through the steering wheel clickwheel. The fact that the LED Matrix lights on the L&K are absolutely spot-on, and the CarPlay/Android is wireless and automatic. There are 5 USB-C ports in the cabin, and the voice control actually works. It's a good basic car with attention to detail that makes it a great one.
