This week's full report.
Gasoline pump prices fell -3.7¢ for the week, and continues well below year ago levels, by -35.3¢, or -9.5%. Days supply slipped 23.9. For perspective... last year was 24.1 days.
Inventories were mixed, with crude down -846K barrels; Distillates up 275K barrels; Gasoline down -2.2M barrels. Total Petroleum + products +SPR slid -2.3M barrels, with the SPR rising +745K barrels.
Despite the draws, the total products is still +51.8M 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 further from last week's $18.67, to $16.37. Gasoline at $8.92 from last week's $10.08. Distillates to $7.45, compared to last week's $8.60.
With the overall spread easing, it is difficult to imagine the pump prices not edging lower, although there was a upswing today.
I may be crazy, but another -12¢ on pump prices, both gasoline and diesel... seem to be in the offing.
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