Gasoline prices (per AAA) rose from last report's $3.569, to $3.687. One year ago the price had fallen to $4.327, and was on its downward trajectory... into the mid September lull, around $3.67. The current price is in line with last November's pump price.
Consumption slipped -2.2% week over week, and is +1.2% above year ago numbers. (This is a four week moving average).
The import/export surplus of gasoline since last March 1st 2022, jumped to +105.3M barrels. That is an 1.7Mb increase over the week.
My past week prediction of a 5¢ rise in pump prices, turns out to have been optimistic, after an 11.8¢ rise.
The current read of the cards, has a continued upward bias, with a near 6¢ increase. Hopefully, that is the extent.
I can think of many possible reasons for the rise, but they would just be speculation on my part.
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