| Product | Region | Incoterm Basis | Price | Last Updated Month |
| Fuel Oil | USA | FOB | USD 806.00/MT | April 2026 |
| Fuel Oil | India | FOB | USD 892.25/MT | April 2026 |
| Fuel Oil | Netherlands | FOB | USD 792.50/MT | April 2026 |
| Fuel Oil | China | FOB | USD 835.50/MT | April 2026 |
| Fuel Oil | Canada | FOB | USD 806.00/MT | April 2026 |
| Fuel Oil | USA | FOB | USD 612.50/MT | March 2026 |
| Fuel Oil | India | FOB | USD 931.65/MT | March 2026 |
| Fuel Oil | Netherlands | FOB | USD 669.00/MT | March 2026 |
| Fuel Oil | China | FOB | USD 680.00/MT | March 2026 |
| Fuel Oil | Canada | FOB | USD 612.50/MT | March 2026 |
Stay updated with the latest Fuel Oil prices, historical data, and tailored regional analysis
Asia
In Asia, China’s domestic ship fuel market saw a sharp increase, with prices rising from about 0.76 RMB/kg (Spot) in January and around 0.89 RMB/kg in March. Early-year supply constraints, combined with rising international crude prices, drove market gains. Cold weather and increased coal transportation amplified demand for coastal shipping fuel. Singapore inventory data showed declining residual fuel oil stocks, reinforcing a tight supply environment. However, China’s domestic ship fuel market saw a sharp 15.1 % price increase from February to March. The rise was driven by geopolitical tensions in the Middle East, which disrupted crude flows and increased insurance and shipping costs. In India, marine fuel prices reflected rising crude import costs and seasonal shipping activity, with logistical constraints moderating extreme volatility.
Europe
In Europe, fuel oil prices strengthened as Brent crude rose due to geopolitical tensions and reduced OPEC+ output. Tight refinery margins and planned maintenance limited local supply, while increased imports from the Middle East partially offset shortages. Elevated crude feedstock costs, along with moderate demand from coastal shipping, supported steady upward pricing.
North America
In North America, US marine fuel prices tracked international crude trends, with WTI surging on Middle East risk premiums and disruptions from winter storms. East Coast ports increased fuel imports from Canada and the Caribbean to maintain inventory levels. Refinery utilization near capacity constrained local supply, amplifying sensitivity to international crude volatility. Downstream shipping demand remained stable but influenced by seasonal cargo shifts and inventory replenishment.
Analyst Insight
According to Procurement Resource, fuel oil prices are likely to remain elevated, with high volatility persisting due to ongoing geopolitical risks in the Middle East and potential Strait of Hormuz congestion, while shipping demand continues to underpin market stability.
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| Product | Category | Region | Price | Last Updated Month |
| Fuel Oil | Operating Costs, Logistics and Utilities | China | 761 USD/MT | October 2025 |
| Fuel Oil | Operating Costs, Logistics and Utilities | China | 757 USD/MT | December 2025 |
Asia
The Asian fuel oil market during the fourth quarter exhibited fluctuating price patterns characterized by mixed directional movements and range-bound trading. The prices were about 761 USD/MT (Spot) in October and around 757 USD/MT in December in China. The period opened with prices experiencing a modest decline as blending raw material costs softened and terminal shipping market demand remained sluggish. Through mid-quarter, prices demonstrated volatility with alternating periods of weakness and recovery as domestic freight rates provided intermittent support while cost pressures from blending components remained limited.
The market navigated competing influences, including crude oil price fluctuations that increased wait-and-see sentiment among participants, while shipowners maintained predominantly small-order purchasing patterns driven by urgent replenishment needs rather than inventory building. Coastal bulk cargo freight rates showed variable performance throughout the period, with northern port closures due to weather conditions occasionally redirecting refuelling demand southward.
The latter portion of the quarter saw continued mixed price action as rising crude oil quotations provided periodic support, though weak blending raw material markets and subdued downstream coastal shipping demand created offsetting pressures. Regional inventory levels at major storage hubs demonstrated gradual accumulation, reflecting adequate supply availability.
Europe
European fuel oil markets during the fourth quarter demonstrated inconsistent patterns influenced by broader crude oil market volatility and regional supply-demand dynamics. The market absorbed varying signals from international crude price movements, geopolitical developments, and refinery operational considerations. Atlantic Basin supply conditions remained adequate throughout the period, with regional inventory positions supporting market stability. Demand from the marine bunker and industrial sectors showed typical seasonal characteristics, while blending activity adjusted to prevailing economic conditions and feedstock availability. Market participants maintained cautious positioning amid mixed fundamental signals and macroeconomic uncertainties.
North America
North American fuel oil markets experienced variable conditions during the fourth quarter, tracking broader petroleum product market dynamics. Regional supply adequacy from refinery output and import flows supported stable availability, while demand patterns reflected typical seasonal variations across heating oil and industrial consumption segments. Market sentiment responded to crude oil price volatility and evolving fundamental considerations, with participants adjusting positions based on inventory levels and forward demand expectations.
Analyst Insight
According to Procurement Resource, fuel oil prices are expected to maintain range-bound patterns as weak blending raw material costs and modest demand limit upside potential.
Fuel Oil is any liquid fuel, obtained from petroleum distillation, that is burned in a furnace or boiler for generating heat or for use in an engine for power generation. Fuel Oil is obtained from the burnable liquids derived from crude oil. It is used to heat up homes and fuel trucks, light up furnaces, produce steam for industrial uses and for generating electric energy. It is used to run home heating equipment including furnaces and boilers and can be used to power different types of engines, lamps, and stoves.
Electricity Generation, Machinery, Liquid Fuel
Heavy Oil, Marine Fuel, Furnace Oil
BP plc, Exxon Mobil Corporation, PetroChina Company Limited, SINOPEC Fuel Oil Sales Corporation Limited, Royal Dutch Shell Plc
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In order to produce Fuel Oil, the process of petroleum distillation is utilised. In this process, a fraction is obtained either in a form of a distillate or as a residue, which is further used to produce Fuel Oil.
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