Fuel Origin

Events / Import ban

EU import ban on Russian refined petroleum products (in force 5 February 2023)

Dates
2023-02-05 → no end date recorded
Dated to
the day
Status
Ongoing
Scope
European Union

What the sources said

Second phase of the sixth sanctions package of 3 June 2022 (Council Regulation (EU) 2022/879 amending Regulation (EU) No 833/2014): an eight-month wind-down for refined petroleum products against six months for seaborne crude. Eurostat, 19 June 2023: "The ban on imports of seaborne crude oil entered into force on 5 December 2022, while the ban on petroleum products took effect on 5 February 2023." Recorded as a separate marker because each event on this timeline has a single start date and the two phases have different in-force dates. This row is a timeline marker only; it makes no statement about prices.

IEA, EIA, European Commission, European Council and national legislators (cited per row)Official
Retrieved 2026-09-25 14:07 UTCRevision 2
Source documents (2)
CountryCountryGermanyFranceNetherlandsPolandFinlandEstoniaAustriaBelgiumBulgariaCroatiaCyprusCzechiaDenmarkGreeceHungaryIrelandItalyLatviaLithuaniaLuxembourgMaltaPortugalRomaniaSlovakiaSloveniaSpainSweden
FuelFuelDiesel (automotive gas oil)Petrol (Euro-super 95)Both fuels

Choosing a fuel keeps that fuel's series and the channels shared by every fuel - the crude benchmark, FX, crude imports and Hormuz exposure. It drops only the other fuel's series.

The event window

What each series was worth from -30 to 90 days around the event date, how far that is from the same series' level at the event date, and how big that move is against the series' own normal variation.

Greece, all fuels in this run. 22 series can be drawn; 7 cannot be seen at all and are shown as labelled empty panels below.

260 published readings, 26 offsets with nothing published within one period, and 91 offsets on series we cannot see at all. Every one of them is on this page.

Europe Brent spot FOB

Unit: $ per barrelPublished: dailyCalculatedOfficial
T0−30−14T0+14+30+60+9088.2974.522023-01-06: 76.41 $ per barrel, used for offsets −302023-01-20: 86.96 $ per barrel, used for offsets −142023-01-27: 85.36 $ per barrel, used for offsets −72023-02-02: 80.57 $ per barrel, used for offsets −3same print as T0 — 2023-02-03, 78.85 $ per barrel, used for offsets −1, T02023-02-06: 80.48 $ per barrel, used for offsets +12023-02-08: 84.17 $ per barrel, used for offsets +32023-02-10: 85.46 $ per barrel, used for offsets +72023-02-17: 81.97 $ per barrel, used for offsets +142023-03-06: 85.86 $ per barrel, used for offsets +302023-04-06: 86.56 $ per barrel, used for offsets +602023-05-05: 75.85 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for Europe Brent spot FOB: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-0676.41-2.440-3.09%-0.68
−142023-01-2086.96+8.110+10.29%+2.27
−72023-01-2785.36+6.510+8.26%+1.82
−32023-02-0280.57+1.720+2.18%+0.48
−12023-02-03same print as T078.850.0000.00%0.00
T02023-02-03same print as T078.850.0000.00%0.00
+12023-02-0680.48+1.630+2.07%+0.46
+32023-02-0884.17+5.320+6.75%+1.49
+72023-02-1085.46+6.610+8.38%+1.85
+142023-02-1781.97+3.120+3.96%+0.87
+302023-03-0685.86+7.010+8.89%+1.96
+602023-04-0686.56+7.710+9.78%+2.16
+902023-05-0575.85-3.000-3.80%-0.84

One volatility unit for this series is 4.53%, the standard deviation of its own day-on-day percentage changes over the three years before the event (757 changes). It is not a significance test.

reported crude oil imports, all origins

Unit: tonnesPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+902,288,7241,615,5872023-01-01: 1,782,374 tonnes, used for offsets −30, −14, −7same print as T0 — 2023-02-01, 1,885,119 tonnes, used for offsets −3, −1, T0, +1, +3, +7, +142023-03-01: 2,223,582 tonnes, used for offsets +302023-04-01: 1,773,592 tonnes, used for offsets +602023-05-01: 1,680,729 tonnes, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for reported crude oil imports, all origins: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-011,782,374-102,745-5.45%-0.23
−142023-01-011,782,374-102,745-5.45%-0.23
−72023-01-011,782,374-102,745-5.45%-0.23
−32023-02-01same print as T01,885,1190.0000.00%0.00
−12023-02-01same print as T01,885,1190.0000.00%0.00
T02023-02-01same print as T01,885,1190.0000.00%0.00
+12023-02-01same print as T01,885,1190.0000.00%0.00
+32023-02-01same print as T01,885,1190.0000.00%0.00
+72023-02-01same print as T01,885,1190.0000.00%0.00
+142023-02-01same print as T01,885,1190.0000.00%0.00
+302023-03-012,223,582+338,463+17.95%+0.76
+602023-04-011,773,592-111,527-5.92%-0.25
+902023-05-011,680,729-204,390-10.84%-0.46

One volatility unit for this series is 23.74%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+901.0951.0022023-01-02: 1.011 € per litre, used for offsets −302023-01-16: 1.013 € per litre, used for offsets −142023-01-23: 1.035 € per litre, used for offsets −7same print as T0 — 2023-01-30, 1.045 € per litre, used for offsets −3, −1, T02023-02-06: 1.035 € per litre, used for offsets +1, +3, +72023-02-13: 1.048 € per litre, used for offsets +142023-03-06: 1.065 € per litre, used for offsets +302023-04-03: 1.050 € per litre, used for offsets +602023-05-01: 1.086 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-021.011-0.034-3.23%-0.08
−142023-01-161.013-0.032-3.03%-0.07
−72023-01-231.035-0.010-1.00%-0.02
−32023-01-30same print as T01.0450.0000.00%0.00
−12023-01-30same print as T01.0450.0000.00%0.00
T02023-01-30same print as T01.0450.0000.00%0.00
+12023-02-061.035-0.010-0.94%-0.02
+32023-02-061.035-0.010-0.94%-0.02
+72023-02-061.035-0.010-0.94%-0.02
+142023-02-131.048+0.003+0.24%+0.01
+302023-03-061.065+0.020+1.90%+0.05
+602023-04-031.050+0.005+0.48%+0.01
+902023-05-011.086+0.041+3.89%+0.09

One volatility unit for this series is 41.30%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.8490.8102023-01-02: 0.8141 € per litre, used for offsets −302023-01-16: 0.8134 € per litre, used for offsets −142023-01-23: 0.8268 € per litre, used for offsets −7same print as T0 — 2023-01-30, 0.8322 € per litre, used for offsets −3, −1, T02023-02-06: 0.8244 € per litre, used for offsets +1, +3, +72023-02-13: 0.8324 € per litre, used for offsets +142023-03-06: 0.8420 € per litre, used for offsets +302023-04-03: 0.8264 € per litre, used for offsets +602023-05-01: 0.8455 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-020.8141-0.018-2.18%-0.81
−142023-01-160.8134-0.019-2.27%-0.84
−72023-01-230.8268-0.005-0.66%-0.24
−32023-01-30same print as T00.83220.0000.00%0.00
−12023-01-30same print as T00.83220.0000.00%0.00
T02023-01-30same print as T00.83220.0000.00%0.00
+12023-02-060.8244-0.008-0.94%-0.35
+32023-02-060.8244-0.008-0.94%-0.35
+72023-02-060.8244-0.008-0.94%-0.35
+142023-02-130.8324+0.000+0.02%+0.01
+302023-03-060.8420+0.010+1.17%+0.44
+602023-04-030.8264-0.006-0.71%-0.26
+902023-05-010.8455+0.013+1.59%+0.59

One volatility unit for this series is 2.69%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

ECB euro foreign exchange reference rate

Unit: US dollars per euroPublished: dailyCalculatedOfficial
T0−30−14T0+14+30+60+901.1081.0442023-01-06: 1.050 US dollars per euro, used for offsets −302023-01-20: 1.083 US dollars per euro, used for offsets −142023-01-27: 1.087 US dollars per euro, used for offsets −72023-02-02: 1.099 US dollars per euro, used for offsets −3same print as T0 — 2023-02-03, 1.094 US dollars per euro, used for offsets −1, T02023-02-06: 1.078 US dollars per euro, used for offsets +12023-02-08: 1.074 US dollars per euro, used for offsets +32023-02-10: 1.069 US dollars per euro, used for offsets +72023-02-17: 1.063 US dollars per euro, used for offsets +142023-03-07: 1.067 US dollars per euro, used for offsets +302023-04-06: 1.092 US dollars per euro, used for offsets +602023-05-05: 1.101 US dollars per euro, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for ECB euro foreign exchange reference rate: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-061.050-0.044-4.00%-7.81
−142023-01-201.083-0.011-1.01%-1.98
−72023-01-271.087-0.007-0.66%-1.29
−32023-02-021.099+0.005+0.47%+0.91
−12023-02-03same print as T01.0940.0000.00%0.00
T02023-02-03same print as T01.0940.0000.00%0.00
+12023-02-061.078-0.016-1.47%-2.88
+32023-02-081.074-0.020-1.85%-3.61
+72023-02-101.069-0.025-2.26%-4.41
+142023-02-171.063-0.031-2.85%-5.57
+302023-03-071.067-0.027-2.49%-4.86
+602023-04-061.092-0.002-0.20%-0.39
+902023-05-051.101+0.008+0.70%+1.38

One volatility unit for this series is 0.51%, the standard deviation of its own day-on-day percentage changes over the three years before the event (772 changes). It is not a significance test.

direct crude Hormuz exposure D1

Unit: % of imported tonnesPublished: monthlyUnknownUnknown
T0−30−14T0+14+30+60+9065.0618.562023-01-01: 44.21 to 60.56 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-02-01: 38.97 to 47.46 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-03-01: 31.15 to 44.26 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-04-01: 23.06 to 42.54 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-05-01: 32.99 to 45.77 % of imported tonnes. No point estimate is published, so no midpoint is drawn.

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits. The shaded band is the admissible range. No midpoint is drawn, because no point estimate is published.

Window table for direct crude Hormuz exposure D1: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-0144.21–60.56not publishednot publishednot published
−142023-01-0144.21–60.56not publishednot publishednot published
−72023-01-0144.21–60.56not publishednot publishednot published
−32023-02-0138.97–47.46not publishednot publishednot published
−12023-02-0138.97–47.46not publishednot publishednot published
T02023-02-0138.97–47.46not publishednot publishednot published
+12023-02-0138.97–47.46not publishednot publishednot published
+32023-02-0138.97–47.46not publishednot publishednot published
+72023-02-0138.97–47.46not publishednot publishednot published
+142023-02-0138.97–47.46not publishednot publishednot published
+302023-03-0131.15–44.26not publishednot publishednot published
+602023-04-0123.06–42.54not publishednot publishednot published
+902023-05-0132.99–45.77not publishednot publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

direct refined-product Hormuz exposure D2

Unit: % of imported tonnesPublished: monthlyUnknownUnknown
T0−30−14T0+14+30+60+9070.200.002023-01-01: 0 to 17.28 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-02-01: 0 to 20.18 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-03-01: 8.310 to 62.68 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-04-01: 0 to 34.77 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-05-01: 0 to 29.19 % of imported tonnes. No point estimate is published, so no midpoint is drawn.

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits. The shaded band is the admissible range. No midpoint is drawn, because no point estimate is published.

Window table for direct refined-product Hormuz exposure D2: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-010–17.28not publishednot publishednot published
−142023-01-010–17.28not publishednot publishednot published
−72023-01-010–17.28not publishednot publishednot published
−32023-02-010–20.18not publishednot publishednot published
−12023-02-010–20.18not publishednot publishednot published
T02023-02-010–20.18not publishednot publishednot published
+12023-02-010–20.18not publishednot publishednot published
+32023-02-010–20.18not publishednot publishednot published
+72023-02-010–20.18not publishednot publishednot published
+142023-02-010–20.18not publishednot publishednot published
+302023-03-018.310–62.68not publishednot publishednot published
+602023-04-010–34.77not publishednot publishednot published
+902023-05-010–29.19not publishednot publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

inventory exposure D7: published days of emergency stock cover, carried through

Unit: days of coverPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+90139.3115.72023-01-01: 137.0 days of cover, used for offsets −30, −14, −7same print as T0 — 2023-02-01, 118.0 days of cover, used for offsets −3, −1, T0, +1, +3, +7, +142023-03-01: 133.0 days of cover, used for offsets +302023-04-01: 131.0 days of cover, used for offsets +602023-05-01: 127.0 days of cover, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for inventory exposure D7: published days of emergency stock cover, carried through: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-01137.0+19.000+16.10%+1.57
−142023-01-01137.0+19.000+16.10%+1.57
−72023-01-01137.0+19.000+16.10%+1.57
−32023-02-01same print as T0118.00.0000.00%0.00
−12023-02-01same print as T0118.00.0000.00%0.00
T02023-02-01same print as T0118.00.0000.00%0.00
+12023-02-01same print as T0118.00.0000.00%0.00
+32023-02-01same print as T0118.00.0000.00%0.00
+72023-02-01same print as T0118.00.0000.00%0.00
+142023-02-01same print as T0118.00.0000.00%0.00
+302023-03-01133.0+15.000+12.71%+1.24
+602023-04-01131.0+13.000+11.02%+1.07
+902023-05-01127.0+9.000+7.63%+0.74

One volatility unit for this series is 10.27%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled)

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.5050.4172023-01-02: 0.4598 € per litre, used for offsets −302023-01-16: 0.4913 € per litre, used for offsets −142023-01-23: 0.4969 € per litre, used for offsets −7same print as T0 — 2023-01-30, 0.4720 € per litre, used for offsets −3, −1, T02023-02-06: 0.4881 € per litre, used for offsets +1, +3, +72023-02-13: 0.4951 € per litre, used for offsets +142023-03-06: 0.4922 € per litre, used for offsets +302023-04-03: 0.4959 € per litre, used for offsets +602023-05-01: 0.4258 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled): value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-020.4598-0.012-2.58%-0.32
−142023-01-160.4913+0.019+4.09%+0.51
−72023-01-230.4969+0.025+5.28%+0.65
−32023-01-30same print as T00.47200.0000.00%0.00
−12023-01-30same print as T00.47200.0000.00%0.00
T02023-01-30same print as T00.47200.0000.00%0.00
+12023-02-060.4881+0.016+3.41%+0.42
+32023-02-060.4881+0.016+3.41%+0.42
+72023-02-060.4881+0.016+3.41%+0.42
+142023-02-130.4951+0.023+4.89%+0.61
+302023-03-060.4922+0.020+4.28%+0.53
+602023-04-030.4959+0.024+5.07%+0.63
+902023-05-010.4258-0.046-9.79%-1.21

One volatility unit for this series is 8.07%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled)

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.5050.4172023-01-02: 0.4598 € per litre, used for offsets −302023-01-16: 0.4913 € per litre, used for offsets −142023-01-23: 0.4969 € per litre, used for offsets −7same print as T0 — 2023-01-30, 0.4720 € per litre, used for offsets −3, −1, T02023-02-06: 0.4881 € per litre, used for offsets +1, +3, +72023-02-13: 0.4951 € per litre, used for offsets +142023-03-06: 0.4922 € per litre, used for offsets +302023-04-03: 0.4959 € per litre, used for offsets +602023-05-01: 0.4258 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled): value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-020.4598-0.012-2.58%-0.32
−142023-01-160.4913+0.019+4.09%+0.51
−72023-01-230.4969+0.025+5.28%+0.65
−32023-01-30same print as T00.47200.0000.00%0.00
−12023-01-30same print as T00.47200.0000.00%0.00
T02023-01-30same print as T00.47200.0000.00%0.00
+12023-02-060.4881+0.016+3.41%+0.42
+32023-02-060.4881+0.016+3.41%+0.42
+72023-02-060.4881+0.016+3.41%+0.42
+142023-02-130.4951+0.023+4.89%+0.61
+302023-03-060.4922+0.020+4.28%+0.53
+602023-04-030.4959+0.024+5.07%+0.63
+902023-05-010.4258-0.046-9.79%-1.21

One volatility unit for this series is 8.07%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

national total oil stocks (Eurostat, commercial holders), with the published days of cover alongside

Unit: tonnesPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+904,627,7994,169,1222023-01-01: 4,583,411 tonnes, used for offsets −30, −14, −7same print as T0 — 2023-02-01, 4,268,123 tonnes, used for offsets −3, −1, T0, +1, +3, +7, +142023-03-01: 4,416,776 tonnes, used for offsets +302023-04-01: 4,213,510 tonnes, used for offsets +602023-05-01: 4,359,964 tonnes, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for national total oil stocks (Eurostat, commercial holders), with the published days of cover alongside: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-014,583,411+315,288+7.39%+1.10
−142023-01-014,583,411+315,288+7.39%+1.10
−72023-01-014,583,411+315,288+7.39%+1.10
−32023-02-01same print as T04,268,1230.0000.00%0.00
−12023-02-01same print as T04,268,1230.0000.00%0.00
T02023-02-01same print as T04,268,1230.0000.00%0.00
+12023-02-01same print as T04,268,1230.0000.00%0.00
+32023-02-01same print as T04,268,1230.0000.00%0.00
+72023-02-01same print as T04,268,1230.0000.00%0.00
+142023-02-01same print as T04,268,1230.0000.00%0.00
+302023-03-014,416,776+148,653+3.48%+0.52
+602023-04-014,213,510-54,613-1.28%-0.19
+902023-05-014,359,964+91,841+2.15%+0.32

One volatility unit for this series is 6.72%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.041-0.2512023-01-02: 0.0128 € per litre, used for offsets −302023-01-16: 0.0002 € per litre, used for offsets −142023-01-23: -0.0041 € per litre, used for offsets −7same print as T0 — 2023-01-30, 0 € per litre, used for offsets −3, −1, T02023-02-06: -0.0248 € per litre, used for offsets +1, +3, +72023-02-13: -0.0815 € per litre, used for offsets +142023-03-06: -0.1102 € per litre, used for offsets +302023-04-03: -0.1413 € per litre, used for offsets +602023-05-01: -0.2229 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-020.0128+0.013not publishednot published
−142023-01-160.0002+0.000not publishednot published
−72023-01-23-0.0041-0.004not publishednot published
−32023-01-30same print as T000.000not publishednot published
−12023-01-30same print as T000.000not publishednot published
T02023-01-30same print as T000.000not publishednot published
+12023-02-06-0.0248-0.025not publishednot published
+32023-02-06-0.0248-0.025not publishednot published
+72023-02-06-0.0248-0.025not publishednot published
+142023-02-13-0.0815-0.082not publishednot published
+302023-03-06-0.1102-0.110not publishednot published
+602023-04-03-0.1413-0.141not publishednot published
+902023-05-01-0.2229-0.223not publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.011-0.0512023-01-02: -0.0408 € per litre, used for offsets −302023-01-16: -0.0311 € per litre, used for offsets −142023-01-23: -0.0139 € per litre, used for offsets −7same print as T0 — 2023-01-30, 0 € per litre, used for offsets −3, −1, T02023-02-06: -0.0002 € per litre, used for offsets +1, +3, +72023-02-13: -0.0195 € per litre, used for offsets +142023-03-06: -0.0243 € per litre, used for offsets +302023-04-03: 0.0051 € per litre, used for offsets +602023-05-01: -0.0447 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-02-0.0408-0.041not publishednot published
−142023-01-16-0.0311-0.031not publishednot published
−72023-01-23-0.0139-0.014not publishednot published
−32023-01-30same print as T000.000not publishednot published
−12023-01-30same print as T000.000not publishednot published
T02023-01-30same print as T000.000not publishednot published
+12023-02-06-0.0002-0.000not publishednot published
+32023-02-06-0.0002-0.000not publishednot published
+72023-02-06-0.0002-0.000not publishednot published
+142023-02-13-0.0195-0.020not publishednot published
+302023-03-06-0.0243-0.024not publishednot published
+602023-04-030.0051+0.005not publishednot published
+902023-05-01-0.0447-0.045not publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

Weekly Oil Bulletin price with taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.8491.5692023-01-02: 1.796 € per litre, used for offsets −302023-01-16: 1.783 € per litre, used for offsets −142023-01-23: 1.804 € per litre, used for offsets −7same print as T0 — 2023-01-30, 1.822 € per litre, used for offsets −3, −1, T02023-02-06: 1.779 € per litre, used for offsets +1, +3, +72023-02-13: 1.724 € per litre, used for offsets +142023-03-06: 1.710 € per litre, used for offsets +302023-04-03: 1.653 € per litre, used for offsets +602023-05-01: 1.596 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price with taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-021.796-0.026-1.43%-0.59
−142023-01-161.783-0.039-2.14%-0.89
−72023-01-231.804-0.018-0.99%-0.41
−32023-01-30same print as T01.8220.0000.00%0.00
−12023-01-30same print as T01.8220.0000.00%0.00
T02023-01-30same print as T01.8220.0000.00%0.00
+12023-02-061.779-0.043-2.36%-0.98
+32023-02-061.779-0.043-2.36%-0.98
+72023-02-061.779-0.043-2.36%-0.98
+142023-02-131.724-0.098-5.38%-2.24
+302023-03-061.710-0.112-6.15%-2.56
+602023-04-031.653-0.169-9.28%-3.86
+902023-05-011.596-0.226-12.40%-5.17

One volatility unit for this series is 2.40%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

Weekly Oil Bulletin price with taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.9281.8372023-01-02: 1.846 € per litre, used for offsets −302023-01-16: 1.857 € per litre, used for offsets −142023-01-23: 1.895 € per litre, used for offsets −7same print as T0 — 2023-01-30, 1.919 € per litre, used for offsets −3, −1, T02023-02-06: 1.909 € per litre, used for offsets +1, +3, +72023-02-13: 1.895 € per litre, used for offsets +142023-03-06: 1.901 € per litre, used for offsets +302023-04-03: 1.918 € per litre, used for offsets +602023-05-01: 1.880 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price with taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-021.846-0.073-3.80%-2.44
−142023-01-161.857-0.062-3.23%-2.08
−72023-01-231.895-0.024-1.25%-0.80
−32023-01-30same print as T01.9190.0000.00%0.00
−12023-01-30same print as T01.9190.0000.00%0.00
T02023-01-30same print as T01.9190.0000.00%0.00
+12023-02-061.909-0.010-0.52%-0.33
+32023-02-061.909-0.010-0.52%-0.33
+72023-02-061.909-0.010-0.52%-0.33
+142023-02-131.895-0.024-1.25%-0.80
+302023-03-061.901-0.018-0.94%-0.60
+602023-04-031.918-0.001-0.05%-0.03
+902023-05-011.880-0.039-2.03%-1.31

One volatility unit for this series is 1.56%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

Weekly Oil Bulletin price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.0670.8412023-01-02: 1.024 € per litre, used for offsets −302023-01-16: 1.014 € per litre, used for offsets −142023-01-23: 1.031 € per litre, used for offsets −7same print as T0 — 2023-01-30, 1.045 € per litre, used for offsets −3, −1, T02023-02-06: 1.010 € per litre, used for offsets +1, +3, +72023-02-13: 0.9660 € per litre, used for offsets +142023-03-06: 0.9547 € per litre, used for offsets +302023-04-03: 0.9087 € per litre, used for offsets +602023-05-01: 0.8628 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-021.024-0.021-2.01%-0.58
−142023-01-161.014-0.031-3.01%-0.86
−72023-01-231.031-0.015-1.39%-0.40
−32023-01-30same print as T01.0450.0000.00%0.00
−12023-01-30same print as T01.0450.0000.00%0.00
T02023-01-30same print as T01.0450.0000.00%0.00
+12023-02-061.010-0.035-3.32%-0.95
+32023-02-061.010-0.035-3.32%-0.95
+72023-02-061.010-0.035-3.32%-0.95
+142023-02-130.9660-0.079-7.56%-2.17
+302023-03-060.9547-0.090-8.64%-2.48
+602023-04-030.9087-0.136-13.04%-3.74
+902023-05-010.8628-0.182-17.44%-5.01

One volatility unit for this series is 3.48%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

Weekly Oil Bulletin price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.8390.7662023-01-02: 0.7734 € per litre, used for offsets −302023-01-16: 0.7822 € per litre, used for offsets −142023-01-23: 0.8129 € per litre, used for offsets −7same print as T0 — 2023-01-30, 0.8322 € per litre, used for offsets −3, −1, T02023-02-06: 0.8242 € per litre, used for offsets +1, +3, +72023-02-13: 0.8129 € per litre, used for offsets +142023-03-06: 0.8177 € per litre, used for offsets +302023-04-03: 0.8314 € per litre, used for offsets +602023-05-01: 0.8008 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-020.7734-0.059-7.07%-2.32
−142023-01-160.7822-0.050-6.01%-1.97
−72023-01-230.8129-0.019-2.33%-0.76
−32023-01-30same print as T00.83220.0000.00%0.00
−12023-01-30same print as T00.83220.0000.00%0.00
T02023-01-30same print as T00.83220.0000.00%0.00
+12023-02-060.8242-0.008-0.97%-0.32
+32023-02-060.8242-0.008-0.97%-0.32
+72023-02-060.8242-0.008-0.97%-0.32
+142023-02-130.8129-0.019-2.33%-0.76
+302023-03-060.8177-0.015-1.74%-0.57
+602023-04-030.8314-0.001-0.10%-0.03
+902023-05-010.8008-0.031-3.78%-1.24

One volatility unit for this series is 3.05%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

total tax per litre: price with taxes minus price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.7820.7282023-01-02: 0.7719 € per litre, used for offsets −302023-01-16: 0.7694 € per litre, used for offsets −142023-01-23: 0.7735 € per litre, used for offsets −7same print as T0 — 2023-01-30, 0.7770 € per litre, used for offsets −3, −1, T02023-02-06: 0.7687 € per litre, used for offsets +1, +3, +72023-02-13: 0.7580 € per litre, used for offsets +142023-03-06: 0.7553 € per litre, used for offsets +302023-04-03: 0.7443 € per litre, used for offsets +602023-05-01: 0.7332 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for total tax per litre: price with taxes minus price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-020.7719-0.005-0.65%-0.61
−142023-01-160.7694-0.008-0.97%-0.91
−72023-01-230.7735-0.003-0.45%-0.42
−32023-01-30same print as T00.77700.0000.00%0.00
−12023-01-30same print as T00.77700.0000.00%0.00
T02023-01-30same print as T00.77700.0000.00%0.00
+12023-02-060.7687-0.008-1.07%-1.00
+32023-02-060.7687-0.008-1.07%-1.00
+72023-02-060.7687-0.008-1.07%-1.00
+142023-02-130.7580-0.019-2.44%-2.28
+302023-03-060.7553-0.022-2.79%-2.61
+602023-04-030.7443-0.033-4.21%-3.93
+902023-05-010.7332-0.044-5.63%-5.26

One volatility unit for this series is 1.07%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

total tax per litre: price with taxes minus price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.0881.0712023-01-02: 1.073 € per litre, used for offsets −302023-01-16: 1.075 € per litre, used for offsets −142023-01-23: 1.082 € per litre, used for offsets −7same print as T0 — 2023-01-30, 1.087 € per litre, used for offsets −3, −1, T02023-02-06: 1.085 € per litre, used for offsets +1, +3, +72023-02-13: 1.082 € per litre, used for offsets +142023-03-06: 1.083 € per litre, used for offsets +302023-04-03: 1.087 € per litre, used for offsets +602023-05-01: 1.079 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for total tax per litre: price with taxes minus price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-021.073-0.014-1.30%-2.40
−142023-01-161.075-0.012-1.10%-2.04
−72023-01-231.082-0.005-0.43%-0.79
−32023-01-30same print as T01.0870.0000.00%0.00
−12023-01-30same print as T01.0870.0000.00%0.00
T02023-01-30same print as T01.0870.0000.00%0.00
+12023-02-061.085-0.002-0.18%-0.33
+32023-02-061.085-0.002-0.18%-0.33
+72023-02-061.085-0.002-0.18%-0.33
+142023-02-131.082-0.005-0.43%-0.79
+302023-03-061.083-0.003-0.32%-0.59
+602023-04-031.087-0.000-0.02%-0.03
+902023-05-011.079-0.008-0.69%-1.28

One volatility unit for this series is 0.54%, the standard deviation of its own week-on-week percentage changes over the three years before the event (149 changes). It is not a significance test.

US proxy - not a European price: US diesel spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+9064.8217.192023-01-06: 52.91 $ per barrel, used for offsets −302023-01-20: 60.21 $ per barrel, used for offsets −142023-01-27: 51.77 $ per barrel, used for offsets −72023-02-02: 42.91 $ per barrel, used for offsets −3same print as T0 — 2023-02-03, 39.25 $ per barrel, used for offsets −1, T02023-02-06: 37.12 $ per barrel, used for offsets +12023-02-08: 38.01 $ per barrel, used for offsets +32023-02-10: 35.25 $ per barrel, used for offsets +72023-02-17: 32.10 $ per barrel, used for offsets +142023-03-06: 36.23 $ per barrel, used for offsets +302023-04-06: 26.92 $ per barrel, used for offsets +602023-05-05: 21.80 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for US proxy - not a European price: US diesel spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-0652.91+13.654+34.78%+3.54
−142023-01-2060.21+20.954+53.38%+5.43
−72023-01-2751.77+12.516+31.88%+3.24
−32023-02-0242.91+3.656+9.31%+0.95
−12023-02-03same print as T039.250.0000.00%0.00
T02023-02-03same print as T039.250.0000.00%0.00
+12023-02-0637.12-2.134-5.44%-0.55
+32023-02-0838.01-1.246-3.17%-0.32
+72023-02-1035.25-4.006-10.21%-1.04
+142023-02-1732.10-7.152-18.22%-1.85
+302023-03-0636.23-3.020-7.69%-0.78
+602023-04-0626.92-12.330-31.41%-3.19
+902023-05-0521.80-17.454-44.46%-4.52

One volatility unit for this series is 9.83%, the standard deviation of its own day-on-day percentage changes over the three years before the event (735 changes). It is not a significance test.

US proxy - not a European price: US gasoline spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+9035.3121.572023-01-06: 23.63 $ per barrel, used for offsets −302023-01-20: 27.78 $ per barrel, used for offsets −142023-01-27: 27.70 $ per barrel, used for offsets −72023-02-02: 26.70 $ per barrel, used for offsets −3same print as T0 — 2023-02-03, 24.34 $ per barrel, used for offsets −1, T02023-02-06: 25.32 $ per barrel, used for offsets +12023-02-08: 25.07 $ per barrel, used for offsets +32023-02-10: 25.04 $ per barrel, used for offsets +72023-02-17: 22.90 $ per barrel, used for offsets +142023-03-06: 25.19 $ per barrel, used for offsets +302023-04-06: 33.98 $ per barrel, used for offsets +602023-05-05: 27.39 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for US proxy - not a European price: US gasoline spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-0623.63-0.710-2.92%-0.02
−142023-01-2027.78+3.440+14.13%+0.08
−72023-01-2727.70+3.360+13.80%+0.08
−32023-02-0226.70+2.354+9.67%+0.05
−12023-02-03same print as T024.340.0000.00%0.00
T02023-02-03same print as T024.340.0000.00%0.00
+12023-02-0625.32+0.974+4.00%+0.02
+32023-02-0825.07+0.728+2.99%+0.02
+72023-02-1025.04+0.698+2.87%+0.02
+142023-02-1722.90-1.440-5.92%-0.03
+302023-03-0625.19+0.844+3.47%+0.02
+602023-04-0633.98+9.636+39.58%+0.22
+902023-05-0527.39+3.042+12.50%+0.07

One volatility unit for this series is 182.66%, the standard deviation of its own day-on-day percentage changes over the three years before the event (735 changes). It is not a significance test.

US proxy - not a European price: US jet spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+9085.086.882023-01-06: 57.61 $ per barrel, used for offsets −302023-01-20: 77.51 $ per barrel, used for offsets −142023-01-27: 73.74 $ per barrel, used for offsets −72023-02-02: 35.06 $ per barrel, used for offsets −3same print as T0 — 2023-02-03, 29.38 $ per barrel, used for offsets −1, T02023-02-06: 32.50 $ per barrel, used for offsets +12023-02-08: 37.04 $ per barrel, used for offsets +32023-02-10: 31.97 $ per barrel, used for offsets +72023-02-17: 24.75 $ per barrel, used for offsets +142023-03-06: 37.16 $ per barrel, used for offsets +302023-04-06: 19.15 $ per barrel, used for offsets +602023-05-05: 14.45 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for US proxy - not a European price: US jet spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302023-01-0657.61+28.228+96.07%+0.54
−142023-01-2077.51+48.128+163.79%+0.93
−72023-01-2773.74+44.352+150.94%+0.85
−32023-02-0235.06+5.672+19.30%+0.11
−12023-02-03same print as T029.380.0000.00%0.00
T02023-02-03same print as T029.380.0000.00%0.00
+12023-02-0632.50+3.116+10.60%+0.06
+32023-02-0837.04+7.658+26.06%+0.15
+72023-02-1031.97+2.588+8.81%+0.05
+142023-02-1724.75-4.632-15.76%-0.09
+302023-03-0637.16+7.774+26.46%+0.15
+602023-04-0619.15-10.230-34.81%-0.20
+902023-05-0514.45-14.934-50.82%-0.29

One volatility unit for this series is 176.64%, the standard deviation of its own day-on-day percentage changes over the three years before the event (735 changes). It is not a significance test.

Not available: licence-blocked

A source exists and its licence does not permit us to republish it. These channels are not missing from the world, only from this page.

Arabian Gulf to north-west Europe dirty tanker rate

Tanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.

13 offsets in the window are affected.

EU refined-product benchmark

EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

13 offsets in the window are affected.

EU refined-product benchmark

EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

13 offsets in the window are affected.

north-west Europe refining margin / crack spread

No published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

13 offsets in the window are affected.

north-west Europe refining margin / crack spread

No published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

13 offsets in the window are affected.

wholesale / rack price

Wholesale / rack price series are proprietary with no redistribution grant.

13 offsets in the window are affected.

wholesale / rack price

Wholesale / rack price series are proprietary with no redistribution grant.

13 offsets in the window are affected.

Source
European Commission, Directorate-General for Energy (DG ENER)Unknown
Period 2023-01Updated 2026-09-25 14:09 UTCConfidenceUnknownMethodologyDownload CSV

T0 is 2023-02-05. The baseline window is -90 to -31 days. Offsets materialised: -30, -14, -7, -3, -1, 0, 1, 3, 7, 14, 30, 60, 90. Method 1.0, calculation event_study-1.0, computed 2026-09-25 14:09 UTC.

Is EU import ban on Russian refined petroleum products (in force 5 February 2023) really the reason?

The question splits into dimensions that are measured separately and never added into one number. Each row says whether we can see that dimension at all, and gives one published figure where we can.

Of the eight price-transmission channels this site reports, 4 have data in this run Calculated - a count of the rows below, not a measurement.

Methodology §11.1 publishes the thresholds the sentences below use: all eight channels present for the full comparison, at least three for the claim to be testable here at all, and 2.0 volatility units for a move to be described as outside a series' normal variation. Those are published wording choices, not statistical tests.

Dimensions of exposure to EU import ban on Russian refined petroleum products (in force 5 February 2023), each with its status and one published figure.
DimensionStatusPublished figure, or why there is none
Direct crude exposure (D1)Share of imported crude whose route requires the Strait of Hormuz.Range only31.15–44.26 % of imported tonnes at +30 d (2023-03) · no midpoint
Direct product exposure (D2)Share of imported refined product whose route requires the Strait of Hormuz.Range only8.310–62.68 % of imported tonnes at +30 d (2023-03) · no midpoint
Emergency stock cover (D7)Days of cover the published emergency stocks amount to. A buffer against a supply disruption, not a share of imports, and not a price channel.Observed133.0 days of cover at +30 d (published 2023-03-01)+12.71% from the level at T0 = +1.24 volatility units
Crude benchmarkThe quoted crude price European cargoes are priced against.Observed85.86 $ per barrel at +30 d (published 2023-03-06)+8.89% from the level at T0 = +1.96 volatility units
Refined-product benchmarkThe quoted product price refineries and wholesalers price against.UnavailableEU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.
Refining marginWhat refining a barrel into this product earned.UnavailableNo published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.
Freight ratesWhat it cost to ship the cargo.UnavailableTanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.
InventoriesStocks held, which absorb or amplify a supply change.Observed4,416,776 tonnes at +30 d (published 2023-03-01)+3.48% from the level at T0 = +0.52 volatility units
Wholesale pricesThe price between the refinery gate and the forecourt.UnavailableWholesale / rack price series are proprietary with no redistribution grant.
Pump price before taxThe pump price with excise, VAT and other fuel taxes stripped out.Observed0.9547 € per litre at +30 d (published 2023-03-06)-8.64% from the level at T0 = -2.48 volatility units
Pump price with taxWhat a driver actually paid.Observed1.710 € per litre at +30 d (published 2023-03-06)-6.15% from the level at T0 = -2.56 volatility units

Physical exposure to the Strait of Hormuz and price exposure are different questions. A country with almost no direct physical exposure can still see its pump price move, because crude is priced globally - and a series that moved in this window may have moved for other reasons.

What the pump price did around this date

The decomposition page can be pinned to the weeks around the event date, so the pump move can be split into tax, input cost and the part the input cost does not account for.

Price decomposition, 2023-01-29 to 2023-03-07 →

The window is the published event date minus 7 days to plus 30 days. It is a window for looking, not a claim that the event caused what is inside it.

Actual vs crude-only: Greece, petrol (euro-super 95)

What the pre-tax price did from four weeks before to thirteen weeks after the event week, next to what it would have done had it followed only the crude input cost at the speed the stored pass-through estimate measures. The shaded difference is not explained by crude; it is not attributed to the event or to anything else. No fuel is selected, so petrol is shown.

The crude-only comparison could not be read.

API 404 for /api/events/eu-russia-products-embargo-2023/crude-only: No stored crude-only run for 'eu-russia-products-embargo-2023' and country 'greece'. Runs are stored for the pilot countries; available_countries lists them.

What the numbers support, sentence by sentence

Each sentence comes from a fixed template, chosen by published thresholds. Open “why this sentence” to see the numbers that selected it. None of this text is written by a language model, and none of it attributes cause.

  1. In the 7 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's pre-tax petrol price moved -1.0%, which is 0.3 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.8241799999999999
    status
    OBSERVED
    country
    Greece
    z_score
    -0.36234016196344826
    t0_value
    0.83224
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.9684706334711222
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_PRETAX_GR_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.31771014359701594
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.008060000000000067
    change_pct_from_t0
    -0.9684706334711222
    observation_gap_days
    6
    normal_volatility_pct
    3.0482836415180117
    change_in_volatility_units
    -0.31771014359701594
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.8241799999999999
    status
    OBSERVED
    country
    Greece
    z_score
    -0.36234016196344826
    t0_value
    0.83224
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.9684706334711222
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_PRETAX_GR_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.31771014359701594
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.008060000000000067
    change_pct_from_t0
    -0.9684706334711222
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    3.0482836415180117
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.31771014359701594

    Template event.price_move.within_normal v1.1 · Fingerprint e00abf408e96c311463681bbb7268c061a5913d1551654eb38facb884106e15a · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  2. In the 30 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's pre-tax petrol price moved -1.7%, which is 0.6 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.81772
    status
    OBSERVED
    country
    Greece
    z_score
    -0.43182056109456474
    t0_value
    0.83224
    fuel_type
    EURO_SUPER_95
    change_pct
    -1.7446890320099944
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_PRETAX_GR_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -0.5723512760581422
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.014519999999999977
    change_pct_from_t0
    -1.7446890320099944
    observation_gap_days
    1
    normal_volatility_pct
    3.0482836415180117
    change_in_volatility_units
    -0.5723512760581422
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.81772
    status
    OBSERVED
    country
    Greece
    z_score
    -0.43182056109456474
    t0_value
    0.83224
    fuel_type
    EURO_SUPER_95
    change_pct
    -1.7446890320099944
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_PRETAX_GR_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -0.5723512760581422
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.014519999999999977
    change_pct_from_t0
    -1.7446890320099944
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    3.0482836415180117
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.5723512760581422

    Template event.price_move.within_normal v1.1 · Fingerprint 870770a440341856e7a8d4d69ca9b3c40b3f05e81a2730a6e358ef39056e6582 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  3. In the 90 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's pre-tax petrol price moved -3.8%, which is 1.2 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.80079
    status
    OBSERVED
    country
    Greece
    z_score
    -0.6139108331208525
    t0_value
    0.83224
    fuel_type
    EURO_SUPER_95
    change_pct
    -3.7789579928866646
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_PRETAX_GR_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -1.2397002501397099
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.03144999999999998
    change_pct_from_t0
    -3.7789579928866646
    observation_gap_days
    5
    normal_volatility_pct
    3.0482836415180117
    change_in_volatility_units
    -1.2397002501397099
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.80079
    status
    OBSERVED
    country
    Greece
    z_score
    -0.6139108331208525
    t0_value
    0.83224
    fuel_type
    EURO_SUPER_95
    change_pct
    -3.7789579928866646
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_PRETAX_GR_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -1.2397002501397099
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.03144999999999998
    change_pct_from_t0
    -3.7789579928866646
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    3.0482836415180117
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.2397002501397099

    Template event.price_move.within_normal v1.1 · Fingerprint 9f5082a2f034f8e367672ac0a9b25935306255a94ace48f612babe7fb536e373 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  4. In the 7 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's tax-inclusive petrol price moved -0.5%, which is 0.3 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.909
    status
    OBSERVED
    country
    Greece
    z_score
    -0.3623724406100326
    t0_value
    1.919
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.5211047420531532
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_INCLTAX_GR_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.3347259152406003
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.010000000000000009
    change_pct_from_t0
    -0.5211047420531532
    observation_gap_days
    6
    normal_volatility_pct
    1.55681026871966
    change_in_volatility_units
    -0.3347259152406003
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.909
    status
    OBSERVED
    country
    Greece
    z_score
    -0.3623724406100326
    t0_value
    1.919
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.5211047420531532
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_INCLTAX_GR_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.3347259152406003
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.010000000000000009
    change_pct_from_t0
    -0.5211047420531532
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    1.55681026871966
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.3347259152406003

    Template event.price_move.within_normal v1.1 · Fingerprint c1d8b75f5cd7b3d5d1cebf691a6dc0b384e4db7f5030e1c1fc8aa546ee193cf7 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  5. In the 30 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's tax-inclusive petrol price moved -0.9%, which is 0.6 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.901
    status
    OBSERVED
    country
    Greece
    z_score
    -0.4317629079608901
    t0_value
    1.919
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.9379885356956756
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_INCLTAX_GR_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -0.6025066474330806
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.018000000000000016
    change_pct_from_t0
    -0.9379885356956756
    observation_gap_days
    1
    normal_volatility_pct
    1.55681026871966
    change_in_volatility_units
    -0.6025066474330806
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.901
    status
    OBSERVED
    country
    Greece
    z_score
    -0.4317629079608901
    t0_value
    1.919
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.9379885356956756
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_INCLTAX_GR_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -0.6025066474330806
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.018000000000000016
    change_pct_from_t0
    -0.9379885356956756
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    1.55681026871966
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.6025066474330806

    Template event.price_move.within_normal v1.1 · Fingerprint cf3ccdd775b5f336e1c563e087e7d3bfb1f7542e74980d3b9b7759d88cde030c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  6. In the 90 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's tax-inclusive petrol price moved -2.0%, which is 1.3 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.8800000000000001
    status
    OBSERVED
    country
    Greece
    z_score
    -0.6139128847568901
    t0_value
    1.919
    fuel_type
    EURO_SUPER_95
    change_pct
    -2.0323084940072915
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_INCLTAX_GR_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -1.3054310694383375
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.038999999999999924
    change_pct_from_t0
    -2.0323084940072915
    observation_gap_days
    5
    normal_volatility_pct
    1.55681026871966
    change_in_volatility_units
    -1.3054310694383375
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.8800000000000001
    status
    OBSERVED
    country
    Greece
    z_score
    -0.6139128847568901
    t0_value
    1.919
    fuel_type
    EURO_SUPER_95
    change_pct
    -2.0323084940072915
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_INCLTAX_GR_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -1.3054310694383375
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.038999999999999924
    change_pct_from_t0
    -2.0323084940072915
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    1.55681026871966
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.3054310694383375

    Template event.price_move.within_normal v1.1 · Fingerprint c2b62bf279fa30c1319feda483de8854c7296d6ccc5311e3114a77addc87adff · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  7. In the 7 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's pre-tax diesel price moved -3.3%, which is 1.0 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.01035
    status
    OBSERVED
    country
    Greece
    z_score
    -1.05444595011901
    t0_value
    1.04502
    fuel_type
    DIESEL
    change_pct
    -3.3176398537827003
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_PRETAX_GR_DIESEL
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.9523902777361578
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.03466999999999998
    change_pct_from_t0
    -3.3176398537827003
    observation_gap_days
    6
    normal_volatility_pct
    3.4834877374733044
    change_in_volatility_units
    -0.9523902777361578
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.01035
    status
    OBSERVED
    country
    Greece
    z_score
    -1.05444595011901
    t0_value
    1.04502
    fuel_type
    DIESEL
    change_pct
    -3.3176398537827003
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_PRETAX_GR_DIESEL
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.9523902777361578
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.03466999999999998
    change_pct_from_t0
    -3.3176398537827003
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    3.4834877374733044
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.9523902777361578

    Template event.price_move.within_normal v1.1 · Fingerprint 3ff4772fcdd5be712961f84240eb355e7be067dcc097a6f430d4abe8789ce25d · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  8. In the 30 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's pre-tax diesel price moved -8.6%, which is 2.5 times its normal week-to-week variation over the previous three years — outside that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.9547000000000001
    status
    OBSERVED
    country
    Greece
    z_score
    -1.6219438860074125
    t0_value
    1.04502
    fuel_type
    DIESEL
    change_pct
    -8.642896786664366
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_PRETAX_GR_DIESEL
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -2.481104409723963
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.09031999999999996
    change_pct_from_t0
    -8.642896786664366
    observation_gap_days
    1
    normal_volatility_pct
    3.4834877374733044
    change_in_volatility_units
    -2.481104409723963
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.9547000000000001
    status
    OBSERVED
    country
    Greece
    z_score
    -1.6219438860074125
    t0_value
    1.04502
    fuel_type
    DIESEL
    change_pct
    -8.642896786664366
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_PRETAX_GR_DIESEL
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -2.481104409723963
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.09031999999999996
    change_pct_from_t0
    -8.642896786664366
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    3.4834877374733044
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -2.481104409723963

    Template event.price_move.outside_normal v1.1 · Fingerprint 7dc9db0f2c974cd6ad5550397da30d2704648fbbd7a25f94a2fa33f8dc8e5f1c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  9. In the 90 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's pre-tax diesel price moved -17.4%, which is 5.0 times its normal week-to-week variation over the previous three years — outside that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.86277
    status
    OBSERVED
    country
    Greece
    z_score
    -2.559411725112909
    t0_value
    1.04502
    fuel_type
    DIESEL
    change_pct
    -17.439857610380663
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_PRETAX_GR_DIESEL
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -5.006435769178393
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.18225000000000002
    change_pct_from_t0
    -17.439857610380663
    observation_gap_days
    5
    normal_volatility_pct
    3.4834877374733044
    change_in_volatility_units
    -5.006435769178393
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    0.86277
    status
    OBSERVED
    country
    Greece
    z_score
    -2.559411725112909
    t0_value
    1.04502
    fuel_type
    DIESEL
    change_pct
    -17.439857610380663
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_PRETAX_GR_DIESEL
    series_kind
    pre-tax
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -5.006435769178393
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.18225000000000002
    change_pct_from_t0
    -17.439857610380663
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    3.4834877374733044
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -5.006435769178393

    Template event.price_move.outside_normal v1.1 · Fingerprint 44ef84682f678c2f221266085d1a8ed1ef7439f2fd559953ffdda286270d33de · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  10. In the 7 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's tax-inclusive diesel price moved -2.4%, which is 1.0 times its normal week-to-week variation over the previous three years — within that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.7790000000000001
    status
    OBSERVED
    country
    Greece
    z_score
    -1.054481013259534
    t0_value
    1.822
    fuel_type
    DIESEL
    change_pct
    -2.3600439077936293
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_INCLTAX_GR_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.9833840408624588
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.04299999999999993
    change_pct_from_t0
    -2.3600439077936293
    observation_gap_days
    6
    normal_volatility_pct
    2.3999208953236586
    change_in_volatility_units
    -0.9833840408624588
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.7790000000000001
    status
    OBSERVED
    country
    Greece
    z_score
    -1.054481013259534
    t0_value
    1.822
    fuel_type
    DIESEL
    change_pct
    -2.3600439077936293
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_INCLTAX_GR_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-06
    same_observation
    false
    volatility_units
    -0.9833840408624588
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.04299999999999993
    change_pct_from_t0
    -2.3600439077936293
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    2.3999208953236586
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.9833840408624588

    Template event.price_move.within_normal v1.1 · Fingerprint 20c2b5d16eac4e5cbc7043a36e10bec92b984de3870dc5d64ce88a790ba84abb · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  11. In the 30 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's tax-inclusive diesel price moved -6.1%, which is 2.6 times its normal week-to-week variation over the previous three years — outside that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.71
    status
    OBSERVED
    country
    Greece
    z_score
    -1.6219270351262352
    t0_value
    1.822
    fuel_type
    DIESEL
    change_pct
    -6.147091108671795
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_INCLTAX_GR_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -2.561372385502225
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.1120000000000001
    change_pct_from_t0
    -6.147091108671795
    observation_gap_days
    1
    normal_volatility_pct
    2.3999208953236586
    change_in_volatility_units
    -2.561372385502225
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.71
    status
    OBSERVED
    country
    Greece
    z_score
    -1.6219270351262352
    t0_value
    1.822
    fuel_type
    DIESEL
    change_pct
    -6.147091108671795
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_INCLTAX_GR_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    -2.561372385502225
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.1120000000000001
    change_pct_from_t0
    -6.147091108671795
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    2.3999208953236586
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -2.561372385502225

    Template event.price_move.outside_normal v1.1 · Fingerprint f280fee51a6a339ee49b8f7cd27c7886c7ce376a270c0c439ba664c4a7b69301 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  12. In the 90 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), Greece's tax-inclusive diesel price moved -12.4%, which is 5.2 times its normal week-to-week variation over the previous three years — outside that range.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.596
    status
    OBSERVED
    country
    Greece
    z_score
    -2.5594465495146945
    t0_value
    1.822
    fuel_type
    DIESEL
    change_pct
    -12.403951701427001
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_INCLTAX_GR_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -5.168483563602698
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.22599999999999998
    change_pct_from_t0
    -12.403951701427001
    observation_gap_days
    5
    normal_volatility_pct
    2.3999208953236586
    change_in_volatility_units
    -5.168483563602698
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    1.596
    status
    OBSERVED
    country
    Greece
    z_score
    -2.5594465495146945
    t0_value
    1.822
    fuel_type
    DIESEL
    change_pct
    -12.403951701427001
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_INCLTAX_GR_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-05-01
    same_observation
    false
    volatility_units
    -5.168483563602698
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.22599999999999998
    change_pct_from_t0
    -12.403951701427001
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    2.3999208953236586
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -5.168483563602698

    Template event.price_move.outside_normal v1.1 · Fingerprint a5185807f8c1e9a402fb6d0e0778b0986aa33e1358117278472950753fe682dc · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  13. Over the 4 weeks after EU import ban on Russian refined petroleum products (in force 5 February 2023), crude costs alone would have moved Greece's pre-tax petrol price by +0.4 c/L (range -0.9–+1.8); it actually moved -1.7 c/L, leaving -2.1 c/L not explained by crude.

    about GreeceCalculatedMedium
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    4
    status
    COMPUTED
    country
    Greece
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_GR_EURO_SUPER_95
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    4
    proxy_product
    GASOLINE
    proxy_to_date
    2023-02-27
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    observation_date
    2023-02-27
    gap_eur_per_litre
    -0.021398237955637167
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    actual_eur_per_litre
    -0.01693
    expected_eur_per_litre
    0.004468237955637168
    proxy_volatility_units
    -0.06928868336620317
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -3.1020000000000003
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    expected_low_eur_per_litre
    -0.009485539161646152
    expected_high_eur_per_litre
    0.018422015072919823
    proxy_normal_volatility_pct
    182.6569381415496
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    4
    status
    COMPUTED
    country
    Greece
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_GR_EURO_SUPER_95
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    4
    proxy_product
    GASOLINE
    proxy_to_date
    2023-02-27
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    statement_topic
    event
    observation_date
    2023-02-27
    gap_eur_per_litre
    -0.021398237955637167
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.01693
    expected_eur_per_litre
    0.004468237955637168
    proxy_volatility_units
    -0.06928868336620317
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -3.1020000000000003
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    -0.009485539161646152
    expected_high_eur_per_litre
    0.018422015072919823
    proxy_normal_volatility_pct
    182.6569381415496

    Template event.crude_only.computed v1.1 · Fingerprint ffd1e74dce9d92e220e6ef4b9bfa603ff3a8b4da9b71929f7c960c1b43b3d36d · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  14. Over the 13 weeks after EU import ban on Russian refined petroleum products (in force 5 February 2023), crude costs alone would have moved Greece's pre-tax petrol price by +1.3 c/L (range -5.0–+7.7); it actually moved -3.1 c/L, leaving -4.5 c/L not explained by crude.

    about GreeceCalculatedMedium
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    13
    status
    COMPUTED
    country
    Greece
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_GR_EURO_SUPER_95
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    13
    proxy_product
    GASOLINE
    proxy_to_date
    2023-04-28
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    observation_date
    2023-05-01
    gap_eur_per_litre
    -0.044721070323707035
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    actual_eur_per_litre
    -0.03144999999999998
    expected_eur_per_litre
    0.013271070323707055
    proxy_volatility_units
    0.11373887030970548
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    5.091999999999999
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    expected_low_eur_per_litre
    -0.050227806812595026
    expected_high_eur_per_litre
    0.0767699474600094
    proxy_normal_volatility_pct
    182.6569381415496
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    13
    status
    COMPUTED
    country
    Greece
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_GR_EURO_SUPER_95
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    13
    proxy_product
    GASOLINE
    proxy_to_date
    2023-04-28
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    statement_topic
    event
    observation_date
    2023-05-01
    gap_eur_per_litre
    -0.044721070323707035
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.03144999999999998
    expected_eur_per_litre
    0.013271070323707055
    proxy_volatility_units
    0.11373887030970548
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    5.091999999999999
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    -0.050227806812595026
    expected_high_eur_per_litre
    0.0767699474600094
    proxy_normal_volatility_pct
    182.6569381415496

    Template event.crude_only.computed v1.1 · Fingerprint 4eaed5861c7f723109b7a8924e231893fd7f3bd89ffc5ea7f990e7623ce4dced · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  15. Over the 4 weeks after EU import ban on Russian refined petroleum products (in force 5 February 2023), crude costs alone would have moved Greece's pre-tax diesel price by +1.2 c/L (range -1.8–+4.2); it actually moved -9.5 c/L, leaving -10.7 c/L not explained by crude.

    about GreeceCalculatedMedium
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    4
    status
    COMPUTED
    country
    Greece
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_GR_DIESEL
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    4
    proxy_product
    DIESEL
    proxy_to_date
    2023-02-27
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    observation_date
    2023-02-27
    gap_eur_per_litre
    -0.10721571386118944
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    actual_eur_per_litre
    -0.09516000000000002
    expected_eur_per_litre
    0.012055713861189421
    proxy_volatility_units
    -1.9939207000691863
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -8.939999999999998
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    expected_low_eur_per_litre
    -0.01838192985092063
    expected_high_eur_per_litre
    0.042493357573298696
    proxy_normal_volatility_pct
    9.833812917722621
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    4
    status
    COMPUTED
    country
    Greece
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_GR_DIESEL
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    4
    proxy_product
    DIESEL
    proxy_to_date
    2023-02-27
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    statement_topic
    event
    observation_date
    2023-02-27
    gap_eur_per_litre
    -0.10721571386118944
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.09516000000000002
    expected_eur_per_litre
    0.012055713861189421
    proxy_volatility_units
    -1.9939207000691863
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -8.939999999999998
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    -0.01838192985092063
    expected_high_eur_per_litre
    0.042493357573298696
    proxy_normal_volatility_pct
    9.833812917722621

    Template event.crude_only.computed v1.1 · Fingerprint 70727f77b921c453cd7fd44434eb5f62747c3240cccad773c8a109804aad6d59 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  16. Over the 13 weeks after EU import ban on Russian refined petroleum products (in force 5 February 2023), crude costs alone would have moved Greece's pre-tax diesel price by +4.1 c/L (range -9.8–+17.9); it actually moved -18.2 c/L, leaving -22.3 c/L not explained by crude. Over the same period the US diesel crack spread, a proxy for the Atlantic product market and not a European margin, narrowed by 27.3 $/bbl.

    about GreeceCalculatedMedium
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    13
    status
    COMPUTED
    country
    Greece
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_GR_DIESEL
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    13
    proxy_product
    DIESEL
    proxy_to_date
    2023-04-28
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    observation_date
    2023-05-01
    gap_eur_per_litre
    -0.22285689977935366
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    actual_eur_per_litre
    -0.18225000000000002
    expected_eur_per_litre
    0.04060689977935364
    proxy_volatility_units
    -6.086587908824174
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -27.290000000000003
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    expected_low_eur_per_litre
    -0.09758095069103043
    expected_high_eur_per_litre
    0.17879475024973698
    proxy_normal_volatility_pct
    9.833812917722621
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    weeks
    13
    status
    COMPUTED
    country
    Greece
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_GR_DIESEL
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    offset_weeks
    13
    proxy_product
    DIESEL
    proxy_to_date
    2023-04-28
    pass_through_k
    2
    proxy_from_date
    2023-01-30
    statement_topic
    event
    observation_date
    2023-05-01
    gap_eur_per_litre
    -0.22285689977935366
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2023-01-30
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.18225000000000002
    expected_eur_per_litre
    0.04060689977935364
    proxy_volatility_units
    -6.086587908824174
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -27.290000000000003
    pass_through_sample_start
    2023-09-25
    pass_through_window_label
    ROLLING_156W
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    -0.09758095069103043
    expected_high_eur_per_litre
    0.17879475024973698
    proxy_normal_volatility_pct
    9.833812917722621

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint d0f33cb2a0176bee73817fc15b2b489e8414115d2775ca38de0ad087c288dbe3 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  17. Direct physical dependence on Hormuz-linked crude was significant (39%–47%) for Greece in 2023-02. No point estimate is published: the origins concerned export from both inside and outside the Persian Gulf and the split per period is not public.

    about GreeceCalculatedMedium
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    band
    significant
    unit
    % of imported tonnes
    period
    2023-02
    status
    NO_OBSERVATION
    country
    Greece
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    value_max_pct
    47.4560820828818
    value_min_pct
    38.9709945101609
    exposure_status
    RANGE_ONLY
    value_point_pct
    null
    observation_date
    2023-02-01
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md §9 publishes no bands
    band_applied_to
    upper bound of the range (docs/HORMUZ_METHOD.md §3.2: a range has no meaningful midpoint)
    dependence_limited_max_pct
    10
    dependence_moderate_max_pct
    33
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    band
    significant
    unit
    % of imported tonnes
    period
    2023-02
    status
    NO_OBSERVATION
    country
    Greece
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    value_max_pct
    47.4560820828818
    value_min_pct
    38.9709945101609
    exposure_status
    RANGE_ONLY
    statement_topic
    hormuz
    value_point_pct
    null
    observation_date
    2023-02-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.range v1.1 · Fingerprint 5855f0d9d07549b87852793900fb31edf3d2ab805a05df48b52fd260667ec5aa · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  18. Direct physical dependence on Hormuz-linked refined product was moderate (0%–20%) for Greece in 2023-02. No point estimate is published: the origins concerned export from both inside and outside the Persian Gulf and the split per period is not public.

    about GreeceCalculatedMedium
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    band
    moderate
    unit
    % of imported tonnes
    period
    2023-02
    status
    NO_OBSERVATION
    country
    Greece
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    value_max_pct
    20.1810389135966
    value_min_pct
    0
    exposure_status
    PARTIAL
    value_point_pct
    null
    observation_date
    2023-02-01
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md §9 publishes no bands
    band_applied_to
    upper bound of the range (docs/HORMUZ_METHOD.md §3.2: a range has no meaningful midpoint)
    dependence_limited_max_pct
    10
    dependence_moderate_max_pct
    33
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    band
    moderate
    unit
    % of imported tonnes
    period
    2023-02
    status
    NO_OBSERVATION
    country
    Greece
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    value_max_pct
    20.1810389135966
    value_min_pct
    0
    exposure_status
    PARTIAL
    statement_topic
    hormuz
    value_point_pct
    null
    observation_date
    2023-02-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.range v1.1 · Fingerprint c5952347e47dc94a575314733ffedad1381cec8d74ddf77e084aca981f115867 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  19. Available evidence does not show a physical supply reduction: Greece's reported crude imports in 2023-02 were +4.5% against the mean of the previous 12 months.

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    unit
    tonnes
    month
    2023-02
    country
    Greece
    change_pct
    4.539597303030168
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    partner_role
    ORIGIN
    value_tonnes
    1885119
    baseline_months
    12
    observation_date
    2023-02-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    baseline_mean_tonnes
    1803258.3333333333
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md publishes no cut-off
    min_baseline_months
    6
    baseline_months_used
    12
    supply_reduction_pct
    -10
    supply_baseline_months
    12
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    unit
    tonnes
    month
    2023-02
    country
    Greece
    change_pct
    4.539597303030168
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    partner_role
    ORIGIN
    value_tonnes
    1885119
    baseline_months
    12
    statement_topic
    event
    observation_date
    2023-02-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    baseline_mean_tonnes
    1803258.3333333333
    study_calculation_version
    event_study-1.0

    Template event.supply.no_reduction v1.1 · Fingerprint 46e5bb21832e776a8bf9b39c0e8eef7bd1fe9f86f3ff8028aa454c9e6f23e1b6 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  20. In 2023-02, Greece's oil stocks stood 1.8% below their trailing 12-month mean — inside the 5% either side that this site reads as in line with it, with 118.0 days of cover (as published).

    about GreeceCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    unit
    tonnes
    month
    2023-02
    status
    OBSERVED
    country
    Greece
    direction
    below
    siec_code
    O4000
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    holder_type
    STK_CL
    series_code
    INVENTORY_GR
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    days_of_cover
    118
    metric_status
    COMPUTED
    mom_change_pct
    -6.878894343099495
    observation_date
    2023-02-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    4268123
    days_of_cover_basis
    as published by Eurostat (nrg_stk_oem, STK_EUE_DIR); not stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    observation_gap_days
    4
    trailing_12m_mean_tonnes
    4348064.583333333
    level_vs_trailing_12m_pct
    -1.8385555642333211
    trailing_12m_observations
    12
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md publishes no band
    band_applied_to
    the rounded figure printed in the sentence
    days_of_cover_basis
    as published (Eurostat nrg_stk_oem, STK_EUE_DIR); never stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    trailing_window_months
    12
    level_vs_trailing_12m_pct_raw
    -1.8385555642333211
    level_vs_trailing_12m_pct_shown
    -1.8
    inventory_material_deviation_pct
    5
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    unit
    tonnes
    month
    2023-02
    status
    OBSERVED
    country
    Greece
    direction
    below
    siec_code
    O4000
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    holder_type
    STK_CL
    series_code
    INVENTORY_GR
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    days_of_cover
    118
    metric_status
    COMPUTED
    mom_change_pct
    -6.878894343099495
    statement_topic
    event
    observation_date
    2023-02-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    4268123
    calculation_version
    event_statements-1.0
    days_of_cover_basis
    as published by Eurostat (nrg_stk_oem, STK_EUE_DIR); not stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    methodology_version
    1.0
    observation_gap_days
    4
    trailing_12m_mean_tonnes
    4348064.583333333
    level_vs_trailing_12m_pct
    -1.8385555642333211
    study_calculation_version
    event_study-1.0
    trailing_12m_observations
    12

    Template event.inventory_level.in_line v1.1 · Fingerprint b8812668bd4ccf7b7eff88c83e35ecb96387c0c21403d8f5df4ac4b8825ff85b · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  21. Summary of what can be checked here

    Only part of the chain can be checked for Greece around EU import ban on Russian refined petroleum products (in force 5 February 2023): 4 of the 8 series the method compares are available (crude benchmark, inventories, pre-tax pump price and pump price with tax), while refined-product benchmark, refining margin, freight rates and wholesale prices are not. Any claim that rests on the missing links cannot be tested here. Direct physical dependence on Hormuz-linked crude was significant (39–47%) over the period covered. This page describes what each series did around the event date. It is not a finding about cause: no causal design is published for this site, and a series that moved in the same window may have moved for other reasons.

    about GreeceUnknownUnknown
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    country
    Greece
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    dependence_band
    significant
    dependence_range
    39–47%
    channels_available
    ["crude benchmark","inventories","pre-tax pump price","pump price with tax"]
    supply_template_id
    event.supply.no_reduction
    channels_unavailable
    ["refined-product benchmark","refining margin","freight rates","wholesale prices"]
    Thresholds
    source
    v1 choice of this module; the channel list is docs/PRICE_MODEL.md §2.3
    channels_total
    8
    channels_available
    4
    verdict_partial_min_channels
    3
    verdict_assessable_min_channels
    8
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    country
    Greece
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    GR
    country_name
    Greece
    country_slug
    greece
    dependence_band
    significant
    statement_topic
    event
    dependence_range
    39–47%
    channels_available
    ["crude benchmark","inventories","pre-tax pump price","pump price with tax"]
    supply_template_id
    event.supply.no_reduction
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    channels_unavailable
    ["refined-product benchmark","refining margin","freight rates","wholesale prices"]
    study_calculation_version
    event_study-1.0

    Template event.verdict.partial v1.1 · Fingerprint c7606c4efeabe447ff85109be5bea7c5dc678ad51ae1d47e78a3040c471655ff · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  22. In the 7 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), the Brent crude benchmark moved +8.4%, which is 1.8 times its normal day-to-day variation over the previous three years — within that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    85.46
    status
    OBSERVED
    z_score
    0.08812991325524933
    t0_value
    78.85
    benchmark
    Brent crude
    change_pct
    8.383005707038683
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    7
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2023-02-10
    same_observation
    false
    volatility_units
    1.8495435613044966
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    6.609999999999999
    change_pct_from_t0
    8.383005707038683
    observation_gap_days
    2
    normal_volatility_pct
    4.532472704306617
    change_in_volatility_units
    1.8495435613044966
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    85.46
    status
    OBSERVED
    z_score
    0.08812991325524933
    t0_value
    78.85
    benchmark
    Brent crude
    change_pct
    8.383005707038683
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2023-02-10
    same_observation
    false
    volatility_units
    1.8495435613044966
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    6.609999999999999
    change_pct_from_t0
    8.383005707038683
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    4.532472704306617
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    1.8495435613044966

    Template event.benchmark_move.within_normal v1.1 · Fingerprint 38adc5dea4321bbd49653a24f7c0174373d8aa5326085a6d6dbe425d5975e73b · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  23. In the 30 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), the Brent crude benchmark moved +8.9%, which is 2.0 times its normal day-to-day variation over the previous three years — within that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    85.86
    status
    OBSERVED
    z_score
    0.1507166248435324
    t0_value
    78.85
    benchmark
    Brent crude
    change_pct
    8.890298034242239
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    30
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    1.9614675287056775
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    7.010000000000005
    change_pct_from_t0
    8.890298034242239
    observation_gap_days
    1
    normal_volatility_pct
    4.532472704306617
    change_in_volatility_units
    1.9614675287056775
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    85.86
    status
    OBSERVED
    z_score
    0.1507166248435324
    t0_value
    78.85
    benchmark
    Brent crude
    change_pct
    8.890298034242239
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2023-03-06
    same_observation
    false
    volatility_units
    1.9614675287056775
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    7.010000000000005
    change_pct_from_t0
    8.890298034242239
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    4.532472704306617
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    1.9614675287056775

    Template event.benchmark_move.within_normal v1.1 · Fingerprint 0da9031a475f48ba9492ce0f26d02ef4b075756fb5a3ed508e2b5f1ea86c489b · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  24. In the 90 days after EU import ban on Russian refined petroleum products (in force 5 February 2023), the Brent crude benchmark moved -3.8%, which is 0.8 times its normal day-to-day variation over the previous three years — within that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    75.85
    status
    OBSERVED
    z_score
    -1.4155158326532304
    t0_value
    78.85
    benchmark
    Brent crude
    change_pct
    -3.804692454026633
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    offset_days
    90
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2023-05-05
    same_observation
    false
    volatility_units
    -0.8394297555088486
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    -3
    change_pct_from_t0
    -3.804692454026633
    observation_gap_days
    1
    normal_volatility_pct
    4.532472704306617
    change_in_volatility_units
    -0.8394297555088486
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    value
    75.85
    status
    OBSERVED
    z_score
    -1.4155158326532304
    t0_value
    78.85
    benchmark
    Brent crude
    change_pct
    -3.804692454026633
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2023-05-05
    same_observation
    false
    volatility_units
    -0.8394297555088486
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    -3
    change_pct_from_t0
    -3.804692454026633
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    4.532472704306617
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.8394297555088486

    Template event.benchmark_move.within_normal v1.1 · Fingerprint 956c15054a5318a99cfc9c833555e8d3f8ac980a1c014dbf655e5357d300335e · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  25. Freight rates reaction cannot be assessed: tanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    reason_code
    NO_LICENSED_FREIGHT_SOURCE
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_FREIGHT_SOURCE
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint 298ab38a71e7fa1e827846158174e16f115ed958766d0a18618b16aa877096e8 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  26. Refined-product benchmark reaction cannot be assessed: EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    reason_code
    NO_LICENSED_PRODUCT_BENCHMARK
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_PRODUCT_BENCHMARK
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint 0a3ee8f8627510915169cd9a2eaa4452fa0806bd90c55f8208323cb6b271bea9 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  27. Wholesale prices reaction cannot be assessed: wholesale / rack price series are proprietary with no redistribution grant.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    reason_code
    NO_LICENSED_WHOLESALE_SERIES
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_WHOLESALE_SERIES
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint b5b761de3451d820e679168f99a9b0a6cadccd3d87b852d57da6f18bc2de3e6c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  28. Refining margin reaction cannot be assessed: no published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    reason_code
    NO_REFINERY_MARGIN_SERIES
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2023-02-05T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    EU import ban on Russian refined petroleum products (in force 5 February 2023)
    event_slug
    eu-russia-products-embargo-2023
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_REFINERY_MARGIN_SERIES
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint e9796ff5d8838330a75be8298f9f4cd8c4fea863574dbd933141d0a1f568d3c6 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

What this does not show

  • It does not show that the event caused anything. No causal design is published for this site, and a series that moved in this window may have moved for other reasons.
  • A change in volatility units is not a significance test, and neither is a z-score. They measure different things and are not interchangeable.
  • Channels with no licensed or loaded source are shown as empty panels, not as flat lines. “We cannot see this” is not “this did not move”.
  • Nothing is interpolated. Where several offsets resolve to one published figure, that is what the publisher printed, and the change against the event date is zero because it is the same number.

Greece: supply, refineries and pump prices →

How to read the labels

  • OfficialReported directly by an official authority.
  • VerifiedReported by a third party we have verified against a primary record.
  • CalculatedComputed by us from reported inputs. The method is published on the methodology page.
  • Inferred · highNot reported. Inferred from at least two independent physical records.
  • Inferred · mediumNot reported. Inferred from strong indirect evidence, with no explicit confirmation.
  • Inferred · lowNot reported. Plausible from infrastructure or movement data only. Do not read as fact.
  • UnknownNo defensible public evidence establishes this. We are not guessing, and this is not a measurement of zero.