ICE Gasoil Price Today

ICE Gasoil (formerly known as IPE Gasoil) is the primary benchmark for middle distillate pricing in Europe and is traded on the Intercontinental Exchange (ICE) in London. Priced in U.S. dollars per metric tonne, the contract is physically deliverable in the Amsterdam-Rotterdam-Antwerp (ARA) hub, the largest petroleum storage and trading hub in Europe. Gasoil is a middle distillate product that encompasses diesel fuel, heating oil, and jet fuel — making it one of the most economically significant refined products globally. European diesel demand is driven by the continent's large diesel vehicle fleet, industrial activity, and agricultural machinery. The gasoil crack spread (gasoil price minus crude oil cost) is the key measure of European refining profitability. Russia's invasion of Ukraine in 2022 and subsequent EU sanctions on Russian petroleum products fundamentally restructured European distillate trade flows and significantly tightened the market.