This week's full report.
Gasoline rose +0.1¢ for the week, but remains below year ago levels, by -12.2¢, or -3.4%. Consumption edged up... per this past report, yet still remains below year ago levels, by just -0.9%.
Inventories fell across the board, with crude inventory down -2.5M barrels; Distillates down 1.7M barrels; Gasoline down -2.3M barrels. Total Petroleum + products +SPR rose +153K barrels, with the SPR rising +386K.
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 from last week's $23.60, to $22.87. Gasoline at $13.95 from last week's $13.36. Distillates to $9.65, compared to last week's $9.51.
All things considered, the outlook for pump prices going any lower is not likely. With refinery operation at levels not seen in 2 years, and before that... 2018. Not sure they can squeeze any more out, if demand were to rise further. With the 4th coming up... a rise in pump prices is not out of the question.
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