This week's full report.
Gasoline pump prices fell -2.1¢ for the week, and continues well below year ago levels, by -26.5¢, or -7.1%. Days supply fell to 24.3, from 24.5. For perspective... last year was 24.8 days.
Inventories were mixed across the board, with crude down -3.4M barrels; Distillates up +1.5M barrels; Gasoline down -3.7M barrels. Total Petroleum + products +SPR slid -1.8M barrels, with the SPR rising +685K barrels.
Despite the across the board draw, the total products is still +53.3M barrels ahead of 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 edged up from last week's $25.05, to $25.24. Gasoline at $15.60 from last week's $14.91. Distillates to $9.64, compared to last week's $10.13.
While the spread moved upward, gasoline inventories fell, and consumption seems to have levelled off.. A sure sign of higher pump prices, except it also indicates pump prices in a narrow band.
A slight rise in gasoline pump prices seems to be in the offing, but it do so last week, as well.
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