Gasoline prices (per AAA) rose from last report to $3.541, as anticipated. One year ago the price had fallen to $4.665, and was on its downward trajectory... into the mid September lull, around $3.67.
Consumption slipped week over week, but stands 6.3% above year ago numbers. (This is a four week moving average).
The import/export surplus of gasoline since last March 1st 2022, jumped to +101.1M barrels. It had basically remained flat for the past 3 months, until this past week's 2.3M barrel jump.
Rinse and repeat. There remains a slight upward bias, mostly due to a jump in WTI price, due to mostly dollar fall, mostly due to anticipation of FED pausing rate hikes, due to today's CPI report.
All of which will likely come due... when next month's CPI tracks higher.
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