Maritime fuel prices have recorded a historic surge as a consequence of the conflict that started on February 28 in the Middle East, with increases that have practically doubled the quotations in just three weeks and far exceed the increase experienced by fuels used in road transport.
According to data concerning the 20 major supply ports in the world, between February 27 and March 24, 2026, the IFO 380 rose from $463.0 to $821.5 per ton; the MGO, from $797.5 to $1,568.5 per ton; and the VLSFO, from $543.5 to $974.5 per ton. All three products have accumulated increases of between 80% and 90% during that period. Furthermore, the IFO 380 and the MGO have reached historic highs, even exceeding the levels recorded during the sharp spike of 2008 and during the energy crisis associated with the war in Ukraine.
The comparison with land fuels highlights the uniqueness of the shock that is shaking the maritime market. According to the Weekly Oil Bulletin from the European Commission, between the week of February 23 and the week of March 16, 2026, the retail price of diesel in Spain rose by 29.1% and that of 95 octane gasoline by 16.1%. Even discounting the tax burden, the increases—42.9% and 26.4%, respectively—are far below those recorded for maritime fuels.
The consequences for shipping companies are immediate. Fuel constitutes a substantial part of the operating costs of ships and, in numerous traffics, it represents more than 50% of the total, which makes companies especially vulnerable to a price increase of this magnitude.
In this context, the Spanish Shipowners Association (ANAVE) has questioned whether the measures approved to mitigate the impact of this crisis are limited to subsidizing fuel for island freight and passenger services, excluding pure freight services. According to the association, this exclusion introduces a difference in treatment between types of ships and services that does not respond to an objective justification, neither from the perspective of the general interest nor from the impact that the crisis is having on operating costs.
ANAVE reminds that pure freight vessels—including container ships, ro-ro ships, and general cargo ships—are also being equally affected by the strong increase in fuel prices. Additionally, just like hybrid cargo and passenger services, they provide essential logistical services for the supply of non-peninsular Spanish territories and for the operation of numerous supply chains of significant importance to the Spanish economy.
Therefore, the shipowners association considers it necessary to urgently review the scope of the approved aid to avoid excluding operators who perform equally essential functions and bear the same impact derived from the crisis. In ANAVE's view, limiting the scope of the subsidies solely to services with passengers on board could create discriminatory effects between operators and distortions that are difficult to justify in the current situation.