This week's full report.
Gasoline pump prices fell -0.17¢ for the week, and continues well below year ago levels, by -61.8¢, or -16.2%. Days supply jumped to 25.3. For perspective... last year was 27.2 days.
Inventories were mixed , with crude increasing +3.9M barrels; Distillates down -1.3M barrels; Gasoline stocks rose +1.1M barrels. Total Petroleum + products +SPR slid -249K barrels, with the SPR rising +680K barrels.
The total products is still +26.7M 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 slipped from last week's $16.22, to $15.70. Gasoline down to $7.87 from last week's $8.42. Distillates to $7.83, compared to last week's $7.80.
One set of data indicates a further easing of pump prices, while another suggests nearing a bottom. Which is exactly what last week's data suggested. This past week, did indicate both slight up and down movement in prices. -7.5¢ ~ 2.5¢. Take your pick. However, if Iranian petroleum infrastructure were to be somehow hampered... all bets are off, imho.
This coming week... only time will tell.
No comments:
Post a Comment