Green diesel is being quoted this week in the range of 45c/l to 47c/l plus 13.5% VAT, depending on order size and location. Including VAT, these prices become 51c/l to 53c/l.

Some purchasing groups would be getting lower quotes, while some farmers ordering small fills will pay more.

Prices have stabilised over the past month after gradually lifting from record lows in early March.

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At the time, some agri contractors bought in supplies for much of the summer season at little over 30c/l plus VAT. That represents a big saving.

Prices remain below the average of the past five years and OPEC and other oil producers are desperate to raise them further.

COVID-19

However, the combination of the COVID-19 pandemic and high global stocks of oil is preventing further rises for the moment.

Worldwide, new cases of COVID-19 continue to rise steeply and there are significant second waves in some countries. Markets don’t see economic growth resuming freely yet.

Meanwhile, for white diesel for road vehicles is being quoted at 89c/l to 91c/l plus 23% VAT depending on order size, etc. That’s 109c/l to 112c/l when the VAT is included.