Gasoil is one of the most widely traded petroleum products in the world. It is a middle distillate — refined between kerosene/jet and residual fuel oil — and serves as the base material for heating oil, agricultural diesel, and road-grade automotive diesel such as EN590.
Gasoil vs EN590 vs D2 — Key Differences
| Parameter | Standard Gasoil | EN590 (ULSD) | D2 (GOST) |
|---|---|---|---|
| Sulphur | ≤0.1–0.5% | ≤10 ppm (0.001%) | ≤0.2% |
| Standard | Generic / regional | EU Directive 2009/30/EC | Russian GOST 305-82 |
| Primary use | Heating, agriculture, marine | Road transport (Euro 5/6) | CIS road/industry |
| Key hub | ARA, Singapore | Rotterdam CIF NWE | Black Sea, Baltic |
ICE Gasoil Futures — The Benchmark
The ICE Gasoil futures contract (GO) traded in London is the primary European gasoil benchmark and the standard reference for heating oil and diesel derivative pricing. Key facts:
- Contract size: 100 metric tonnes
- Quotation: USD per metric tonne
- Delivery: Amsterdam-Rotterdam-Antwerp (ARA) barge basis
- Specification: 0.1% sulphur max gasoil
- Used to price: heating oil swaps, EN590 crack spreads, marine diesel
D2 Diesel Trade — Common Scams
Genuine D2 transactions from Russian refineries (Lukoil, Gazprom Neft, Rosneft) follow a specific procedure: ICPO → FCO → contract → LC or SBLC → SGS inspection at loading terminal. Any deviation from this sequence — especially requests to pay before contract execution — is a fraud indicator.
Gasoil Price Drivers
- Brent crude — ICE Gasoil tracks Brent closely; crack spread reflects refinery margins
- Heating season — Q4 demand in Europe and North America drives premium over crude
- ARA inventory levels — Euroilstock and Insights Global gasoil stock reports
- Sanctions on Russian supply — EU ban on Russian petroleum products redirected D2 flows
- Agricultural demand — Spring planting season increases agricultural diesel demand
Frequently Asked Questions
- What is gasoil?
Gasoil is a middle-distillate petroleum fraction produced during crude oil refining, boiling between approximately 200°C and 360°C. It encompasses heating oil (domestic and industrial), agricultural diesel, marine diesel, and the base feedstock for road-grade diesel such as EN590.
- What is the difference between gasoil and EN590?
EN590 is a specific European specification for automotive diesel (10ppm sulphur max). Gasoil is the broader product category — EN590 is a premium-specification gasoil. Standard gasoil may have higher sulphur content (50ppm, 500ppm, or more) and less stringent cold-flow properties.
- What is D2 gasoil?
D2 is the Russian Federation GOST standard for gasoil, widely used in CIS states and traded internationally from Russian refineries. D2 (GOST 305-82) is a diesel fuel oil with up to 0.2% sulphur and is often quoted alongside EN590 in commodity markets, though the two have different specs.
- How is gasoil price quoted?
Gasoil is quoted in USD per metric tonne ($/MT) FOB or CIF at major hubs: Rotterdam (ARA), Singapore, and the Middle East. The ICE Gasoil futures contract (trading symbol GO) on the Intercontinental Exchange in London is the primary financial benchmark for European gasoil pricing.