This week's full report.
Gasoline pump prices fell -4.1¢ for the week, and continues well below year ago levels, by -39.4¢, or -11.1%. Days supply rose to 24.0. For perspective... last year was 26.0 days.
Inventories were mixed , with crude up +5.5M barrels; Distillates down -1.1M barrels; Gasoline stocks rose +878K barrels. Total Petroleum + products +SPR rose +6.7M barrels, with the SPR rising +760K barrels.
The total products is still +25.6M 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 $17.29, to $17.01. Gasoline eased ever so slightly to $8.74 from last week's $8.75. Distillates to $8.27, compared to last week's $8.54.
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, and the week prior, and the week prior, etc. This past week, did indicate both slight up and down movement in prices. -2.3¢ ~ +3.1¢. Take your pick.
Still, nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.
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