Fuel Oil Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Fuel Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Oil prices have risen dramatically, with benchmark West Texas Intermediate (WTI) crude rising from 71 USD/barrel (bbl) in December 2021 to 109 USD/bbl in May 2022. While U.S. gasoline and diesel stockpiles are running low and refining capacity is constrained, export demand is still high.

In December 2021, the price of fuel oil was recorded at 793 USD/MT in China. The oil market appeared to be on a firmer footing in December 2021 than it had been in some time. With world oil supply beating demand in December, much-needed relief for tight markets was on the way.

The Covid-19 Omicron variant's appearance at the end of November prompted a sharp drop in oil prices, but immediate pessimism had given way to a more measured reaction. Despite this, brent crude was trading about 75 USD/bbl towards the end of November, down about 10 USD/bbl from the beginning of the month.

Procurement Resource provides latest prices of Fuel Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

Please Login or Subscribe to explore our dashboard.


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.

Product Details

Report Features Details
Product Name Fuel Oil
Industrial Uses Electricity Generation, Machinery, Liquid Fuel
Synonyms Heavy oil, Marine fuel, Furnace oil
Supplier Database BP plc, Exxon Mobil Corporation, PetroChina Company Limited, SINOPEC Fuel Oil Sales Corporation Limited, Royal Dutch Shell Plc
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-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.

Production Processes

  • Production of Fuel Oil via Petroleum Distillation

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.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

Table Of Contents

Assistance from Experts

Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

Client's Satisfaction

Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.

Assured Quality

Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.


Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences which help us to enhance our services. For further information review our Privacy Policy