Gasoline prices were (per AAA) were down -5.5¢ this week, to $3.531. A year ago, the price had ballooned to $4.374. I eventually projected a -10.2¢ decrease, and missed the mark. Those falling prices might be over, although not a sharp rise seems in the offing. Maybe +2.6¢ for the coming week.
Consumption increased +0.2% from last week, and stands 1.1% above year ago numbers. (This is a four week moving average).
The import/export surplus of gasoline since last March 1st 2022, stands at +98.6M barrels. The import/export numbers have really not changed that much over the past few weeks and this past week showed more imports than exports, by 700K.
Where will pump prices be next week? As stated earlier, maybe another +2.6¢ upward, or around $3.55.
That is a darn sight better than last year, which was about $4.50 a gallon 1 year ago, next week.
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