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Diesel price index

This post is a summary of the Diesel price index developments since 2017. The price developments are expressed as a price index in US$ prices converted at current FX rates, which are the FX rates applicable at the time the price was valid. Diesel price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.

 

Further information on the Diesel price index

 

What is Diesel

Diesel is a type of fuel made from crude oil. It is used primarily to power diesel engines, which are found in many types of vehicles, including cars, trucks, buses, and trains, as well as in ships and some stationary engines. Diesel fuel is also used in some power generators and industrial machinery.

Diesel fuel is made up of a mixture of hydrocarbons and is typically heavier and oilier than gasoline. It has a higher energy content than gasoline and is more efficient, which means that it can go further on a gallon of fuel. Diesel engines are also typically more durable and require less maintenance than gasoline engines.

Diesel fuel is named after Rudolf Diesel, who developed the diesel engine in the late 19th century. It is commonly used in transportation and heavy machinery due to its high energy density and efficient combustion. In recent years, there has been a push to develop cleaner and more efficient diesel fuels, such as biodiesel and ultra-low sulfur diesel, to reduce emissions and improve air quality.

 

How is Diesel produced

Diesel fuel is produced from crude oil through a refining process. The first step in refining crude oil is to separate it into different components, or fractions, based on the differences in their boiling points. These fractions include gasoline, diesel fuel, kerosene, and heavy fuel oils.

The process of producing diesel fuel typically begins by heating the crude oil to a high temperature in a distillation column. As the crude oil boils, the different fractions are separated and collected at different points in the column based on their boiling points. The diesel fuel fraction is collected from the middle of the distillation column and is typically a mixture of hydrocarbons with carbon atoms in the range of 12 to 16.

After the diesel fuel fraction is collected, it is treated with hydrogen to remove impurities and improve its performance. The diesel fuel is then further refined and treated to remove any remaining impurities, such as sulfur and other contaminants. The final product is a clear, straw-colored liquid that is ready to be used as fuel.

In addition to traditional diesel fuel made from crude oil, there are also alternative types of diesel fuel made from renewable resources, such as biodiesel and renewable diesel. These fuels are made from plant oils or waste products and are designed to reduce emissions and improve air quality.

 

How big is the global Diesel market

The global diesel market is a significant part of the global energy market. Diesel fuel is widely used as a transportation fuel and as a power source for heavy machinery and industrial processes. According to the International Energy Agency, global demand for diesel fuel was approximately 4.3 million barrels per day in 2019.

The demand for diesel fuel varies by region and is influenced by a number of factors, including economic growth, transportation needs, and industrial activity. Some of the largest markets for diesel fuel include the United States, China, and Europe, which together account for a significant portion of global demand.

In recent years, there has been a trend towards increased use of alternative fuels, such as electricity and natural gas, which has led to a slight decline in the demand for diesel fuel. However, diesel remains an important energy source, particularly in the transportation sector, and is expected to continue to play a significant role in the global energy mix in the coming years.

 

Further reading

 

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Notes on the price-data

  • We aim to update the data series on the 11th and 25th of each month (but we do not always make it for each chart)
  • The data for the current month and recent history are fine-tuned over time.
  • We are continually improving our data collection and processing methods and data will be updated from time to time as we improve the accuracy
  • We are working hard to upgrade the algorithm before April 1, 2023 and a further fine-tune by July 1, 2023
  • This the index trend of the price of the product group in general and not a single specification in particular
  • The source of the data are exclusively public non-confidential sources
  • We combine public publications, import/export records, company announcements, and sources of ad-hoc public information.
  • The chart shows the price trend,  nearly always taken from many statistically-correlated sources 
  • The data is presented in US$. The UOM of measure is shown in the Index list table
  • We do our best to create an accurate representation of the trend
  • Although we believe the price trend to be accurate, we assume no responsibility or liability for any errors or omissions in the content of this site.
  • The information is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness, fitness for purpose or timeliness.
  • By their nature, outlooks are always uncertain
  • We are working on 500 additional indexes which will be released over time when we are content that it is accurate.
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