Gasoline prices (per AAA) remained relatively flat, from last report at $3.553, or down -2.1¢. One year ago the price had ballooned to $4.919.
Consumption increased +0.3% from last week, and stands 1.6% above year ago numbers. (This is a four week moving average).
The import/export surplus of gasoline since last March 1st 2022, stands at +99.8M barrels. The import/export numbers have really not changed that much over the past few weeks and this past week showed more exports than imports, by a mere +15K daily.
Where will pump prices be next week? My estimate last week was -4.7¢ and ended up with a down -2.1¢. The right direction at least.
Not sure that will happen this coming week, as several factors have me leaning to pump prices heading a bit higher. Again, the range may be in the ±5¢, with a slight upward bias.
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