This Week in Petroleum Summary April 17th, 2024 per EIA.GOV

This week's full report.

Pump prices edged up +4.1¢ on the week, although down -1.3¢ from last year. Consumption is down from last year's mark, but slightly up from previous week.

Inventories were mixed in this week's report. Crude, +2.7M barrels; Distillates, -2.8M barrels; Gasoline, -1.2M barrels.

Refinery output is still lagging against year ago levels.

For those interested, the exports of Crude, Petroleum Products, Including Gasoline has far outweighed the imports, by this much, since March, 2022.

The current crack spread has risen slightly from last week's $29.28, to $29.55. Gasoline at $19.37 from last week's $18.79. Distillates at $10.18, compared to last week's $10.49.

The upward pressure on pump prices has moderated, with the current expectation at near current levels, with potential for a drop, not being out of the realm of possibilities.