EN590 diesel price: how it is formed and why “price today” offers mislead

Benchmark prices change every trading day, and the final invoice price of a cargo is only known once the pricing period has ended. A seller who quotes a flat “EN590 10ppm price today” that stays valid for weeks, or for monthly deliveries over a year, is not describing how the physical market works.

What a serious counterparty can name is the structure: which benchmark, which pricing period, which premium, which Incoterms® rule and which delivery location. The actual number is agreed for a specific, verified transaction. We do not publish diesel prices.

• CIF NWE cargoes: larger seaborne cargoes delivered to Northwest Europe, cost, insurance and freight included.
• FOB ARA barges: smaller barge lots loaded in the Amsterdam–Rotterdam–Antwerp area.

Other price reporting agencies publish comparable assessments. Because the data is licensed, free websites that show an “en590 platts price today” are usually repeating delayed or approximate figures. Contract parties work with the official assessment named in the contract, not with a screenshot.

Physical contracts often refer to the futures settlement prices, or use them to hedge price risk between purchase and sale. An “en590 price chart” on a financial website usually shows this futures contract, not the price at which a specific cargo can be bought.

The futures price is a reference for a standardised product in a specific location. Freight, quality details, cargo size and timing still have to be reflected in the premium or discount.

Because the price follows the market, the invoice can only be finalised after the pricing period. Payment terms and the payment instrument are agreed alongside the formula.

Volumes in contracts and certificates refer to standard volume at 15 °C, because diesel expands when warm. The actual density from the certificate of quality is used for the conversion, not an assumed value. A price per litre and a price per tonne can therefore only be compared once the density is known.

• Freight and insurance: included in CIF prices, paid separately by the buyer under FOB.
• Storage and handling: tank rental, throughput and terminal fees.
• Inspection: independent quantity and quality inspection at loading and, if agreed, at discharge.
• Duties and taxes: customs formalities, energy or excise tax and VAT under the rules of the country where the diesel is released for consumption.

These items differ by country, terminal and contract and should be clarified with the logistics provider, the customs broker and tax advisers before a deal.

Diesel containing biodiesel (FAME) is classified under a different subheading of heading 2710. The binding code for a specific shipment should be checked in the EU TARIC database and confirmed with the customs broker. More on the product itself is in our EN 590 diesel specification guide.

Which variant is delivered matters for the price, the customs classification and national blending or tax rules. The contract and the certificate of quality should state the FAME content explicitly instead of only “EN590”.

• Price well below Platts or ICE: no genuine seller gives away a margin the market would pay.
• “Commission per litre” or per barrel: long mandate chains promising a fee per litre to every intermediary are a hallmark of fake EN590 diesel sellers.
• Fees before inspection: payments for tank storage, injection, dip tests or “tank takeover” before an independent inspector has confirmed the product.
• Bank instruments first: SBLC, MT760 or proof of funds demanded before the seller has proven title to the product.
• “Russian origin, no sanctions”: EU sanctions prohibit Russian refined products and restrict products made from Russian crude in third countries; see the FAQ on our petroleum products page.

More patterns are described in our guides on commodity scam warning signs, LOI, ICPO and FCO red flags and payment instruments.