With data up to: July 2016 Monthly July2016 July2016 Oil Price Statistics Next release: 13 September
Date of publication: 11 August 2016 Monthly Oil Price Statistics TABLE OF CONTENTS Page Charts 1 IEA members crude oil import costs 3 2 End-use prices for selected oil products 3 3 End-use prices for selected oil products - by product and geographical groupings 4 Tables 1 Average crude oil import costs 5 2 Average end-use total and ex-tax prices for selected oil products - latest month 6 3 Average end-use prices for selected oil products 7 4 Average end-use taxes for selected oil products 8 NOTES Abbreviations cif cost of insurance and freight included Sources 1 Crude oil import costs are derived from the IEA's monthly survey of its member countries. 2 Monthly oil products prices and taxes have been developed by the IEA Secretariat using data extracted from the following sources, supplemented by tax information supplied by national agencies: Canada - Natural Resources Canada France, Germany, Italy, Spain and United Kingdom - European Commission's Directorate-General for Energy and the German Federal Ministry for Economic Affairs and Energy Japan - Ministry for Economy, Trade and Industry's Agency for Natural Resources and United States - US Energy Information Administration, US Bureau of Labour Statistics The IEA Secretariat thanks all agencies concerned. Please note that all IEA data are subject to the following Terms and Conditions found on the IEA s website: http://www.iea.org/t&c/termsandconditions/ OECD/IEA, 2016 2 International Energy Agency
KEY TRENDS Crude oil import costs 1 for IEA countries continued to increase in May, reaching almost 40 US dollars per barrel for the first time since November 2015. Despite these recent increases, crude oil import costs in May 2016 were about one third of the levels in May 2014 and two thirds of the levels in May 2015. Gasoline and diesel prices in Europe and North America fell between June and July 2016, after four consecutive months of increases. Road fuel prices decreased slightly in Japan, when expressed in national currency. European fuel oil prices for industry continued to rise between June and July 2016. However, like road fuels, domestic heating oil prices decreased by 3-4% during the same period after four months of increases. 150 Chart 1: IEA members crude oil import costs 1 100 50 0 1. Volume-weighted average cif cost, reported in US dollars; includes France, Germany, Italy, Spain, UK, Japan, Canada and USA. 1.6 Chart 2: End-use prices for selected oil products 1 1.2 0.8 0.4 0.0 Sep13 Nov13 Mar14 May14 Sep14 Nov14 Mar15 May15 Sep15 Nov15 Mar16 May16 Sep13 Nov13 Mar14 May14 Sep14 Nov14 Mar15 USD/bbl May15 Sep15 Nov15 Mar16 May16 Gasoline Domestic heating oil Automotive diesel² Fuel oil for industry 1. Consumption-weighted average price including taxes using current exchange rates for France, Germany, Italy, Spain, UK, Japan, Canada and USA. 2. Automotive diesel for non-commercial use. OECD/IEA, 2016 3 International Energy Agency
Chart 3: End-use prices 1 for selected oil products 2.5 Gasoline 2 2.5 Diesel 3 2.0 2.0 1.5 1.0 1.5 1.0 0.5 0.5 Automotive 0.0 diesel 2 (Tax per Litre) 0.0 Oct13 Apr14 Oct14 Apr15 Oct15 Apr16 1.5 Domestic heating oil 1.0 0.5 0.0 Oct13 Apr14 Oct14 Apr15 Oct15 Apr16 Oct13 Apr14 Oct14 Apr15 Oct15 Apr16 1.5 Fuel oil for industry 1.0 0.5 0.0 Oct13 Apr14 Oct14 Apr15 Oct15 Apr16 Japan Europe⁴ North America⁵ 1. Consumption-weighted average price including taxes. For the two most recent months, consumption is estimated using growth rates for the same period of the previous year. 2. Unleaded premium (95 RON) for France, Germany, Italy, Spain and the United Kingdom; regular unleaded for Canada, Japan and the United States. 3. Automotive diesel for non-commercial use. 4. Includes France, Germany, Italy, Spain and the United Kingdom. 5. Includes the United States and Canada. OECD/IEA, 2016 4 International Energy Agency
Table 1: Average crude oil import costs 1 US dollars per barrel France Germany Italy Spain UK Japan Canada USA Total 2 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q2013 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 3Q2015 4Q2015 1Q2016 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 20.82 20.68 20.53 20.45 21.08 20.55 21.26 20.16 20.48 18.99 19.01 18.88 18.34 19.32 20.55 20.59 18.34 19.11 12.43 12.48 12.21 11.80 12.64 13.68 13.15 12.02 12.52 17.45 17.51 17.10 16.99 18.01 17.38 17.85 17.06 17.26 28.18 28.09 27.77 27.16 28.45 28.72 29.10 27.54 27.98 24.13 24.15 23.87 23.32 24.45 25.01 24.87 22.07 23.44 24.63 24.40 24.34 23.95 24.58 24.96 24.97 23.52 24.17 28.87 28.44 28.58 28.13 29.13 29.26 29.53 27.66 28.37 37.61 36.65 36.60 36.03 37.75 36.59 38.13 35.86 36.44 52.74 52.30 51.33 50.54 53.79 51.57 52.37 48.82 50.59 63.69 63.29 62.50 60.99 65.00 64.03 64.33 59.17 61.60 72.22 71.60 70.20 68.66 73.80 70.09 70.04 66.77 69.02 97.63 96.70 96.67 94.86 99.34 100.98 101.41 94.97 97.01 61.64 61.18 60.69 59.78 62.39 61.29 60.29 58.83 60.11 79.78 78.49 79.29 77.84 80.60 79.43 79.14 76.02 77.79 111.78 110.63 110.23 108.50 113.49 109.30 110.80 102.43 106.77 112.01 112.21 112.18 109.48 112.62 114.75 110.61 101.16 107.78 109.56 109.62 109.98 106.77 110.27 110.61 108.60 97.25 104.53 99.40 99.76 99.09 97.07 100.07 104.16 98.60 89.43 96.23 53.14 52.65 52.06 49.51 53.81 54.20 53.48 45.83 50.13 113.75 113.44 114.00 110.63 114.38 113.89 112.83 97.40 106.99 103.71 103.23 104.46 101.84 104.61 106.77 104.76 97.03 101.54 110.69 110.80 110.96 107.93 111.41 108.54 108.73 102.09 106.42 111.00 110.78 110.44 106.77 110.98 112.77 107.32 92.12 102.98 110.11 109.36 108.58 106.24 110.34 111.29 105.21 93.64 103.19 109.95 109.67 109.50 106.79 110.56 109.62 106.43 97.50 104.43 102.48 102.61 102.95 100.74 104.23 108.61 102.03 93.61 100.03 77.50 77.87 77.52 75.14 78.74 86.22 80.51 72.41 77.30 55.07 54.35 54.36 51.18 55.15 54.92 54.63 46.27 51.27 61.75 61.74 61.02 57.56 62.24 60.73 60.34 54.47 58.31 51.68 50.83 50.81 48.31 52.03 56.25 52.77 45.26 49.71 44.52 43.44 42.80 41.25 45.38 45.06 44.93 37.76 41.49 34.40 33.21 32.54 30.76 35.09 32.20 35.86 28.11 30.83 110.19 109.66 109.78 107.27 110.92 109.19 105.55 97.15 104.15 111.11 111.29 111.59 108.02 111.59 110.31 107.52 99.51 106.00 108.61 107.53 108.14 106.34 109.71 111.63 106.11 98.09 104.45 102.92 101.85 102.76 100.29 103.75 109.44 101.26 93.41 100.04 96.08 98.42 97.37 95.82 99.06 104.86 97.94 89.13 95.51 88.58 88.77 87.01 88.22 90.02 97.59 90.09 83.90 88.57 80.47 80.07 79.48 75.41 81.53 86.55 82.33 74.94 79.13 64.44 65.05 65.38 62.44 66.27 75.34 71.59 58.99 64.91 51.58 49.90 49.96 50.05 51.61 59.60 55.27 46.50 50.90 55.43 56.89 55.53 50.23 55.14 49.01 52.90 45.69 50.10 57.89 56.32 57.76 53.00 57.86 55.78 55.39 46.53 52.64 59.89 59.06 58.07 55.14 59.39 56.85 58.11 49.90 54.67 63.59 63.74 62.59 58.95 65.28 60.92 61.71 56.22 59.86 61.48 62.11 62.20 58.67 62.63 64.93 61.57 57.52 60.51 57.36 57.20 56.60 54.60 58.40 62.48 58.69 52.44 56.30 50.72 48.05 48.87 46.49 49.59 56.47 51.89 43.63 48.30 47.76 47.32 46.68 43.56 47.89 49.24 46.95 39.71 44.45 48.67 47.38 47.51 45.85 49.14 47.23 46.75 41.07 44.94 45.95 44.09 43.93 42.66 45.67 46.50 46.36 38.79 42.48 39.38 39.09 37.60 35.34 40.24 41.83 42.06 33.47 37.25 33.20 31.40 30.47 29.45 33.36 34.12 32.40 27.55 30.38 32.50 31.83 31.25 29.07 32.13 29.50 39.99 26.37 28.94 37.51 36.41 36.04 33.41 38.87 32.83 36.71 30.34 33.03 40.48 39.63 38.53 37.83 41.51 37.95 39.14 34.27 36.99 c 45.21 45.34 43.25 46.84 42.00 43.97 38.81 39.83 1. 2. Average cost, cif basis, reported in US dollars. Volume-weighted average cost for France, Germany, Italy, Spain, UK, Japan, Canada and USA. OECD/IEA, 2016 5 International Energy Agency
Table 2: Average end-use total and ex-tax prices for selected oil products July 2016 National currencies 1 US dollars Total % change from Ex-tax % change from Total % change from Ex-tax % change from price Jun-16 Jul-15 price Jun-16 Jul-15 price Jun-16 Jul-15 price Jun-16 Jul-15 Gasoline 2 (per litre) France 1.308-3.4-8.9 0.442-7.9-21.8 1.454-4.4-7.9 0.491-8.9-21.0 France Germany 1.324-1.8-11.6 0.458-4.2-24.2 1.471-2.8-10.7 0.509-5.2-23.4 Germany Italy 1.454-1.6-10.5 0.464-3.9-23.2 1.616-2.6-9.6 0.516-4.9-22.4 Italy Spain 1.162-2.0-12.2 0.498-3.9-21.1 1.291-3.1-11.3 0.553-4.9-20.3 Spain UK 1.118 0.7-4.1 0.352 1.7-10.2 1.472-6.5-18.9 0.463-5.6-24.0 UK Japan 123.1-0.3-14.5 57.6-0.7-25.2 1.191 1.7 2.0 0.557 1.3-10.7 Japan Canada 1.042-4.6-14.3 0.655-6.8-20.2 0.791-6.7-16.4 0.497-8.9-22.2 Canada USA 0.583-6.7-21.0 0.464-8.3-25.0 0.583-6.7-21.0 0.464-8.3-25.0 USA Diesel 3 (per litre) France 1.127-2.7-4.6 0.428-5.7-14.9 1.253-3.7-3.6 0.476-6.7-14.1 France Germany 1.108-0.7-8.5 0.461-1.5-15.9 1.231-1.8-7.6 0.512-2.5-15.0 Germany Italy 1.305-1.0-9.9 0.453-2.2-20.5 1.450-2.0-9.0 0.503-3.2-19.7 Italy Spain 1.037-1.5-10.3 0.489-2.6-16.7 1.152-2.6-9.4 0.543-3.6-15.9 Spain UK 1.130 0.8-4.9 0.362 2.3-11.7 1.488-6.5-19.5 0.477-5.1-25.3 UK Japan 103.0-0.4-15.8 63.1-0.6-22.2 0.997 1.6 0.4 0.611 1.4-7.1 Japan 3 Canada 1.001-1.1-9.4 0.701-1.5-12.4 0.760-3.3-11.7 0.532-3.7-14.6 Canada 3 USA 0.630-1.6-14.4 0.493-2.0-17.8 0.630-1.6-14.4 0.493-2.0-17.8 USA Domestic heating oil (per litre) France 0.646-3.7-10.3 0.442-4.4-15.6 0.718-4.7-9.4 0.491-5.4-14.8 France Germany 0.539-2.5-16.7 0.392-2.9-18.8 0.599-3.5-15.9 0.435-3.9-18.0 Germany Italy 1.104-2.3-10.3 0.502-4.1-17.2 1.227-3.3-9.4 0.557-5.1-16.4 Italy Spain 0.582-1.8-17.4 0.393-2.4-20.7 0.647-2.8-16.6 0.436-3.4-19.9 Spain UK 0.440 0.9-6.2 0.307 1.2-8.2 0.579-6.4-20.6 0.405-6.1-22.3 UK Japan 4 61.944 0.7-25.6 54.816 0.8-26.5 0.599 2.8-11.2 0.530 2.8-12.3 Japan 4 Canada 0.976-0.5-7.4 0.868-0.5-7.9 0.741-2.6-9.7 0.659-2.7-10.2 Canada USA........................ USA Low sulphur fuel oil for industry 5 (per kg) France 0.365 2.5-10.0 0.297 3.1-17.7 0.406 1.4-9.1 0.330 2.0-16.9 France Germany........................ Germany Italy 0.326 1.3-15.2 0.295 1.4-16.6 0.363 0.2-14.4 0.328 0.4-15.7 Italy Spain 0.299 7.0-21.7 0.283 7.4-22.7 0.332 5.9-21.0 0.314 6.2-22.0 Spain UK........................ UK Japan........................ Japan Canada........................ Canada USA........................ USA 1. Euros for France, Germany, Italy and Spain; pounds for UK; yen for Japan; Canadian dollars for Canada; US dollars for USA. 2. Unleaded premium (95 RON) for France, Germany, Italy, Spain, UK; regular unleaded for Canada, Japan and the United States. 3. Automotive diesel for non-commercial use. 4. Kerosene for Japan. 5. VAT excluded from prices for France, Italy, Spain and UK as it is refunded to industry. See Tables 3 and 4 for an historical comparison of end-use prices and taxes. OECD/IEA, 2016 6 International Energy Agency
Table 3: Average end-use prices for selected oil products National currencies 1 Aug15 Sep15 Oct15 Nov15 Dec15 Feb16 Mar16 Apr16 May16 Jun16 Gasoline 2 (per litre) France 1.373 1.302 1.292 1.290 1.273 1.270 1.244 1.261 1.301 1.328 1.354 1.308 Germany 1.422 1.359 1.316 1.327 1.299 1.258 1.222 1.245 1.297 1.333 1.348 1.324 Italy 1.556 1.491 1.473 1.457 1.448 1.414 1.375 1.394 1.423 1.455 1.477 1.454 Spain 1.245 1.186 1.168 1.164 1.145 1.117 1.082 1.107 1.141 1.170 1.186 1.162 UK 1.141 1.105 1.088 1.073 1.043 1.019 1.015 1.024 1.060 1.086 1.110 1.118 Japan 138.4 135.2 133.9 131.2 125.8 120.4 113.1 112.6 116.2 116.2 123.5 123.1 Canada 1.151 1.072 1.053 1.059 1.017 0.958 0.900 0.966 1.016 1.074 1.092 1.042 USA 0.696 0.625 0.605 0.570 0.538 0.515 0.466 0.520 0.558 0.599 0.625 0.583 Diesel 3 (per litre) France 1.123 1.105 1.104 1.099 1.051 1.024 1.014 1.058 1.061 1.116 1.158 1.127 Germany 1.151 1.139 1.114 1.125 1.058 0.992 0.988 1.036 1.044 1.096 1.116 1.108 Italy 1.390 1.359 1.348 1.340 1.303 1.230 1.193 1.231 1.237 1.281 1.318 1.305 Spain 1.093 1.078 1.066 1.059 1.004 0.941 0.926 0.968 0.972 1.020 1.053 1.037 UK 1.126 1.103 1.109 1.102 1.082 1.036 1.012 1.032 1.066 1.094 1.121 1.130 Japan 117.4 113.7 112.3 110.5 107.8 104.3 98.3 97.3 99.1 99.1 103.4 103.0 Canada 1.055 1.029 1.045 1.053 1.006 0.946 0.894 0.927 0.907 0.962 1.012 1.001 USA 0.686 0.662 0.666 0.652 0.610 0.566 0.528 0.552 0.569 0.612 0.640 0.630 Domestic heating oil (per litre) France 0.680 0.688 0.669 0.654 0.601 0.565 0.557 0.588 0.591 0.644 0.670 0.646 Germany 0.596 0.599 0.587 0.592 0.514 0.455 0.436 0.483 0.480 0.534 0.553 0.539 Italy 1.167 1.159 1.140 1.132 1.079 1.027 1.019 1.053 1.057 1.105 1.130 1.104 Spain 0.650 0.622 0.615 0.608 0.557 0.495 0.481 0.512 0.517 0.555 0.593 0.582 UK 0.432 0.433 0.431 0.417 0.376 0.344 0.348 0.381 0.391 0.417 0.436 0.440 Japan 4 81.389 78.778 76.889 74.611 70.889 63.722 60.056 59.611 59.889 60.056 61.500 61.944 Canada 1.001 0.987 0.998 1.001 0.967 0.925 0.914 0.930 0.933 0.959 0.980 0.976 USA 0.644 0.628 0.621 0.608 0.559 0.520 0.508 0.514 0.525 0.554 0.569.. Low sulphur fuel oil for industry 5 (per kg) France 0.353 0.325 0.323 0.316 0.267 0.255 0.272 0.291 0.295 0.333 0.357 0.365 Germany 0.261 0.238 0.248 0.230 0.190 0.144 0.163 0.184 0.189 0.222 0.240.. Italy 0.329 0.308 0.310 0.309 0.269 0.232 0.233 0.251 0.257 0.290 0.322 0.326 Spain 0.335 0.302 0.296 0.291 0.275 0.241 0.211 0.228 0.230 0.253 0.280 0.299 UK........................ Japan 66.096 62.856 60.696 60.264 57.240 51.732 49.248 47.952 49.464 50.760 53.028.. Canada........................ USA 6 0.380 0.348 0.344 0.328 0.289 0.223 0.199 0.218 0.246 0.290.... 1. 2. 3. 4. 5. 6. Euros for France, Germany, Italy and Spain; pounds for UK; yen for Japan; Canadian dollars for Canada; US dollars for USA. Unleaded premium (95 RON) for France, Germany, Italy, Spain, UK; regular unleaded for Canada, Japan and the United States. Automotive diesel for non-commercial use. Kerosene for Japan. VAT excluded from prices for France, Italy, Spain and UK as it is refunded to industry. Data for May 2015 onwards have been estimated by IEA based on residual fuel oil prices. OECD/IEA, 2016 7 International Energy Agency
Table 4: Average end-use taxes for selected oil products National currencies 1 Aug15 Sep15 Oct15 Nov15 Dec15 Feb16 Mar16 Apr16 May16 Jun16 Gasoline 2 (per litre) France 0.860 0.848 0.846 0.846 0.847 0.860 0.855 0.858 0.865 0.869 0.874 0.866 Germany 0.882 0.872 0.865 0.867 0.862 0.856 0.850 0.854 0.862 0.867 0.870 0.866 Italy 1.009 0.997 0.994 0.991 0.989 0.983 0.976 0.979 0.985 0.990 0.994 0.990 Spain 0.678 0.668 0.665 0.664 0.661 0.656 0.650 0.654 0.660 0.665 0.668 0.664 UK 0.770 0.764 0.761 0.759 0.754 0.750 0.749 0.751 0.757 0.760 0.764 0.766 Japan 66.6 66.3 66.2 66.0 65.6 65.2 64.7 64.6 64.9 64.9 65.4 65.4 Canada 0.392 0.388 0.387 0.387 0.385 0.383 0.380 0.383 0.385 0.388 0.389 0.387 USA 3 0.119 0.119 0.119 0.119 0.119 0.119 0.119 0.119 0.119 0.119 0.119 0.119 Diesel 4 (per litre) France 0.668 0.665 0.665 0.664 0.664 0.682 0.680 0.687 0.688 0.697 0.704 0.699 Germany 0.654 0.652 0.648 0.650 0.639 0.628 0.628 0.635 0.637 0.645 0.648 0.647 Italy 0.868 0.862 0.860 0.859 0.852 0.839 0.832 0.839 0.840 0.848 0.855 0.852 Spain 0.558 0.555 0.553 0.552 0.542 0.531 0.529 0.536 0.537 0.545 0.551 0.548 UK 0.768 0.764 0.765 0.764 0.760 0.753 0.749 0.752 0.758 0.761 0.767 0.768 Japan 40.9 40.6 40.5 40.4 40.2 39.9 39.5 39.4 39.6 39.6 39.9 39.9 Canada 0.302 0.301 0.302 0.302 0.300 0.297 0.295 0.296 0.295 0.298 0.300 0.300 USA 3 0.136 0.136 0.136 0.136 0.136 0.136 0.137 0.137 0.137 0.137 0.137 0.137 Domestic heating oil (per litre) France 0.190 0.191 0.188 0.185 0.181 0.191 0.189 0.194 0.195 0.204 0.208 0.204 Germany 0.157 0.157 0.155 0.156 0.143 0.134 0.131 0.138 0.138 0.147 0.150 0.147 Italy 0.614 0.612 0.609 0.607 0.598 0.588 0.587 0.593 0.594 0.602 0.607 0.602 Spain 0.202 0.195 0.195 0.193 0.185 0.174 0.171 0.177 0.177 0.184 0.191 0.190 UK 0.132 0.132 0.132 0.131 0.129 0.128 0.128 0.130 0.130 0.131 0.132 0.132 Japan 5 8.569 8.375 8.236 8.067 7.791 7.260 6.989 6.956 6.976 6.989 7.096 7.128 Canada 0.109 0.108 0.109 0.109 0.107 0.105 0.105 0.105 0.105 0.107 0.108 0.107 USA........................ Low sulphur fuel oil for industry 6 (per kg) France 0.045 0.045 0.045 0.045 0.045 0.069 0.069 0.069 0.069 0.069 0.069 0.069 Germany 0.025 0.025 0.025 0.025 0.025 0.025 0.025 0.025 0.025 0.025 0.025.. Italy 0.031 0.031 0.031 0.031 0.031 0.031 0.031 0.031 0.031 0.031 0.031 0.031 Spain 0.017 0.017 0.017 0.017 0.017 0.017 0.017 0.017 0.017 0.016 0.016 0.017 UK........................ Japan 4.896 4.656 4.496 4.464 4.240 3.832 3.648 3.552 3.664 3.760 3.928.. Canada........................ USA........................ 1. Euros for France, Germany, Italy and Spain; pounds for UK; yen for Japan; Canadian dollars for Canada; US dollars for USA. 2. Unleaded premium (95 RON) for France, Germany, Italy, Spain, UK; regular unleaded for Canada, Japan and the United States. 3. Includes federal and state tax only 4. Automotive diesel for non-commercial use. 5. Kerosene for Japan. 6. VAT excluded from prices for France, Italy, Spain and UK as it is refunded to industry. OECD/IEA, 2016 8 International Energy Agency
Page Overall responsibility Roberta Quadrelli Statistics Mariano Berkenwald Contacts: Energy Data Centre Prices and Taxes Statistics 9, rue de la Fédération 75739 PARIS Cedex 15 France +33 (0)1 40 57 66 26 prices@iea.org Media Enquiries: IEA Press Office +33 (0)1 40 57 65 54 ieapressoffice@iea.org This document can be downloaded free of charge at: http://www.iea.org/statistics/topics/pricesandtaxes/ (also available in Excel format) The publication schedule can be downloaded at: http://www.iea.org/media/statistics/schedule_monthly.pdf