This week's full report.
Gasoline pump prices fell -3.3¢ for the week, and continues well below year ago levels, by -37.0¢, or -9.7%. Days supply rose from 24.3, to 24.7. For perspective... last year was 24.1 days.
Inventories were mixed across the board, with crude down -3.8M barrels; Distillates up +949K barrels; Gasoline up +1.3M barrels. Total Petroleum + products +SPR rose +1.9M barrels, with the SPR rising +736K barrels.
Despite the mix of draws, the total products is still +45.1M 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 slid from last week's $25.24, to $22.53. Gasoline at $13.19 from last week's $15.60. Distillates to $9.33, compared to last week's $9.64.
With the overall spread easing, gasoline inventories rose, and consumption seems to have levelled off.
Things can change in a hurry, but a continuing decrease in pump prices, seems a decent forecast.
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