This week, quotes for bulk quantities of green diesel are hovering around the €1.017/l, including VAT mark.

As we went to press this week, prices being quoted for orders in the region of 1,000l plus of green diesel, or marked gas oil (MGO) as it’s more commonly referred to, were ranging throughout the country from 0.99c/l up to €1.05/l, including VAT.

Over the past month green diesel prices remained steady, with some suppliers quoting marginal reductions in price.

At the time of our last survey, just over one month ago, green diesel prices had rocketed in the space of three days by over 10c/l as a result of strikes between Israel and Iran.

Since then, markets have remained somewhat more stable.

White diesel

Every month the AA commission a fuel price report, which for June found petrol prices to average at €1.77/litre, up marginally by €0.01 on May. Diesel also crept up, rising to €1.69/litre from €1.68/litre, which shows that the gap between petrol and white diesel prices continues to narrow.

Brent crude

Brent crude was trading between US$68 and US$69/barrel at the time we went to press this week.

Over the past month, crude prices peaked just over US$70/barrel back from highs of US$79/barrel experienced for almost two weeks earlier in June – amid the heightened ongoing tensions in the Middle East.

Over the past month, crude oil’s price has fallen by 4.95%, and is down 15.39% compared to the same time last year.

However, there is continued uncertainty in the oil market over trade negotiations between the EU and the US, with the 1 August deadline on tariff negotiations looming.

This is the date US President Trump has threatened to hit most of the bloc countries’ exports with 30% tariffs.

On the other hand, the bloc countries are stepping up preparations to strike back if the two sides fail to secure a deal.