What Does the Future Look Like for Fuel?

The Transportation Energy Institute (TEI) released a new research paper, “Global Petroleum-Based Fuel Markets: Understanding How Fuel Moves Around the World,” developed by S&P Global Energy and peer reviewed by TEI's Board of Advisors. The study examines how crude oil, gasoline, diesel and jet fuel move through global markets and why international events can directly affect fuel prices and availability in the United States.

As geopolitical conflicts and supply chain disruptions continue to reshape energy markets, the report provides a baseline understanding of the global transportation fuel system as it existed in 2025 and the interconnected trade flows that underpin fuel supply worldwide.

Among the report's key findings are: 

• the United States' role as the world's largest fuel market and refiner 
• the growing influence of global trade on regional fuel supplies
• the importance of the Gulf Coast as a major export hub
• the critical role Canada plays as America's largest energy trading partner.

The study also highlights how infrastructure limitations, varying fuel specifications and international trade relationships contribute to a highly interconnected marketplace where local fuel prices can be affected by events occurring thousands of miles away.

As policymakers, businesses and consumers confront an evolving energy landscape, the paper establishes a baseline understanding of how global fuel markets function and the factors that may shape their future direction.

"Understanding how fuels move through the global marketplace is essential for making sound energy, business and policy decisions," said TEI Executive Director John Eichberger. "This research provides an objective foundation for understanding today's transportation energy system and evaluating how future market disruptions may reshape it. We are proud that TEI's Board of Advisors served as an independent peer-review of this important work."

The full report can be found here.