Pump Prices heading up!!

Reviewed this weeks EIA report and observed the current status of inventories. 

Oddly, although domestic consumption is down from last year, the past couple of weeks has shown an increase in that consumption.

Checking the futures market, refinery operating rates, etc., it would certainly appear that prices will continue that upward trend, with gasoline easily rising another 4¢~7¢ and diesel jumping 9¢+.

This Week in Petroleum Summary December 27th, 2024 per EIA.GOV

This week's full report.  

Gasoline pump prices fell -1.6¢ for the week, but continues below year ago levels, by -8.8¢, or -2.88%. Days supply fell to 25.2. For perspective... last year was 25.7 days. 

Inventories were mixed , with crude down -4.2M barrels; Distillates down -1.7M barrels; Gasoline stocks rose +1.6M barrels. Total Petroleum + products +SPR slipped -12.4M barrels, with the SPR rising +260K barrels.

The total products is still +16.2M 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 fell from last week's $16.89, to $16.68. Gasoline rose to $7.74, from last week's $7.68. Distillates fell to $8.94, compared to last week's $9.22. Per barrel of diesel is $29.60; Per barrel of gasoline is $17.02. Generally speaking... above $25 indicates rises. 

The data sets for gasoline, continue to diverge with price movement in the coming days, within a narrow band, imo. -1.7¢ ~ +1.9¢. There does seem to be some upward movement in diesel.

With the profitability of diesel increasing, the potential for added refining could increase gasoline supplies, which has been shown of late. So it is possible that gasoline will continue somewhat lower, but diesel appears to be headed up. 

Time will tell.

I will continue to track the Energy Reports for personal reasons, I will discontinue publications of going forward]

This Week in Petroleum Summary December 18th, 2024 per EIA.GOV

This week's full report.  

Gasoline pump prices rose +1.4¢ for the week, but continues below year ago levels, by -3.2¢, or -1.2%. Days supply fell to 25.4. For perspective... last year was 26.5 days. 

Inventories were mixed , with crude down -934K barrels; Distillates down -3.2M barrels; Gasoline stocks rose +2.3M barrels. Total Petroleum + products +SPR slipped -2.7M barrels, with the SPR rising +519K barrels.

The total products is still +11.6M 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 fell from last week's $17.11, to $16.89. Gasoline fell to $7.67, from last week's $8.38. Distillates rose to $9.22, compared to last week's $8.72. Per barrel of diesel is $30.53; Per barrel of gasoline is $16.86. Generally speaking... above $25 indicates rises. 

The data sets for gasoline, continue to diverge with price movement in the coming days, within a narrow band, imo. -.02¢ ~ +4.2¢. There does seem to be some upward movement in diesel.

With the profitability of diesel increasing, the potential for added refining could increase gasoline supplies, which has been shown of late. So it is possible that gasoline will continue somewhat lower, but diesel appears to be headed up. 

Time will tell.

This Week in Petroleum Summary December 11th, 2024 per EIA.GOV

This week's full report.  

Gasoline pump prices slid -1.3¢ for the week, but continues below year ago levels, by -13.3¢, or -4.2%. Days supply rose to 25.5. For perspective... last year was 26.3 days. 

Inventories were mixed , with crude down -1.4M barrels; Distillates up +3.2M barrels; Gasoline stocks rose +5.1M barrels. Total Petroleum + products +SPR slipped -195K barrels, with the SPR rising +724K barrels.

The total products is still +17.7M 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 fell from last week's $17.41, to $17.11. Gasoline fell to $8.38, from last week's $8.73. Distillates slid to $8.72, compared to last week's $8.68.

The data sets for gasoline, continue to diverge with price movement in the coming days, within a narrow band, imo. -3.1¢ ~ +4.4¢. There does seem to be some upward movement in diesel.

We may be nearing the end of downward pressures on gasoline. Just have to wait and see.

This Week in Petroleum Summary December 4th, 2024 per EIA.GOV

This week's full report.  

Gasoline pump prices slid -0.4¢ for the week, but continues below year ago levels, by -20.9¢, or -6.4%. Days supply rose to 24.5. For perspective... last year was 26.2 days. 

Inventories were mixed , with crude down -5.1M barrels; Distillates up +3.4M barrels; Gasoline stocks rose +2.4M barrels. Total Petroleum + products +SPR slipped -3.3M barrels, with the SPR rising +1.4M barrels.

The total products is still +7.9M 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 fell from last week's $17.96, to $17.41. Gasoline fell to $8.73, from last week's $8.76. Distillates slid to $8.68, compared to last week's $9.21.

The data sets continue to diverge with price movement in the coming days, within a narrow band, imo. -2.4¢ ~ +3.6¢. 

Still, just as the past few weeks... nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.

This Week in Petroleum Summary November 27th, 2024 per EIA.GOV

This week's full report.  

Gasoline pump prices rose +0.7¢ for the week, but continues below year ago levels, by -17.7¢, or -5.4%. Days supply rose to 24.2. For perspective... last year was 24.8 days. 

Inventories were mixed , with crude down -1.8M barrels; Distillates up +416K barrels; Gasoline stocks rose +3.3M barrels. Total Petroleum + products +SPR slipped -625K barrels, with the SPR rising +1.2M barrels.

The total products is still +9.8M 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 fell from last week's $18.64, to $17.96. Gasoline fell to $8.76, from last week's $9.46. Distillates rose to $9.21, compared to last week's $9.18.

The data sets continue to diverge with price movement in the coming days, within a narrow band, imo. -1.9¢ ~ +3.1¢. 

Still, just as the past few weeks... nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.

This Week in Petroleum Summary November 20th, 2024 per EIA.GOV

This week's full report. 

Gasoline pump prices fell -1.8¢ for the week, and continues well below year ago levels, by -24.2¢, or -7.3%. Days supply rose to 23.4. For perspective... last year was 24.3 days. 

Inventories were mixed , with crude up +545K barrels; Distillates down -114K barrels; Gasoline stocks rose +2.1M barrels. Total Petroleum + products +SPR rose -4.4M barrels, with the SPR rising +1.4M barrels.

The total products is still +13.6M 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 rose from last week's $17.95, to $18.64. Gasoline rose to $9.46, from last week's $8.99. Distillates rose to $9.18, compared to last week's $8.96.

The data sets continue to diverge with price movement in the coming days, within a narrow band, imo. +2.3¢ ~ +3.6¢. Supposedly, this will be blamed on missiles in Ukraine, causing price of oil to move.

Still, just as the past few weeks... nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.

This Week in Petroleum Summary November 15th, 2024 per EIA.GOV

This week's full report. 

Gasoline pump prices fell -1.5¢ for the week, and continues well below year ago levels, by -26.1¢, or -7.8%. Days supply slid to 22.9. For perspective... last year was 24.0 days.

Inventories were mixed , with crude up +2.1M barrels; Distillates down -199K barrels; Gasoline stocks fell -4.4M barrels. Total Petroleum + products +SPR slid -5.9M barrels, with the SPR rising +81K barrels.

The total products is still +13.6M 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 rose from last week's $17.00, to $17.95. Gasoline rose to $8.99, from last week's $8.44. Distillates rose to $8.96, compared to last week's $8.57.

The data sets continue to diverge with price movement in the coming days, within a narrow band, imo. -2.7¢ ~ +3.0¢.

Still, just as the past few weeks... nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.

This Week in Petroleum Summary November 6th, 2024 per EIA.GOV

This week's full report. 

Gasoline pump prices fell -0.28¢ for the week, and continues well below year ago levels, by -31.1¢, or -9.1%. Days supply rosel to 23.8. For perspective... last year was 24.1 days.

Inventories were up across the board , with crude up +1.1M barrels; Distillates up +2.9M barrels; Gasoline stocks up +412K barrels. Total Petroleum + products +SPR rose +263K barrels, with the SPR rising +1.4M barrels.

The total products is still +19.5M 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 rose from last week's $16.62, to $17.00. Gasoline eased ever so slightly to $8.44, from last week's $8.45. Distillates rose to $8.57, compared to last week's $8.17.

The data sets continue to diverge with price movement in the coming days. -0.9¢ ~ +3.5¢.

Still, just as the past few weeks... nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.

 

This Week in Petroleum Summary October 30th, 2024 per EIA.GOV

This week's full report. 

Gasoline pump prices fell -0.2¢ for the week, and continues well below year ago levels, by -35.9¢, or -10.3%. Days supply fell to 23.3. For perspective... last year was 25.5 days. 

Inventories were down across the board , with crude down +515K barrels; Distillates down -977K barrels; Gasoline stocks down -2.7M barrels. Total Petroleum + products +SPR rose +6.7M barrels, with the SPR rising +760K barrels.

The total products is still +20.4M 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 $17.01, to $16.62. Gasoline eased ever so slightly to $8.45 from last week's $8.74. Distillates to $8.17, compared to last week's $8.27.

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. -4.3¢ ~ +2.8¢. Take your pick. 

Still, just as the past few weeks... nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.

This Week in Petroleum Summary October 23rd, 2024 per EIA.GOV

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.

This Week in Petroleum Summary October 17th, 2024 per EIA.GOV

This week's full report. 

Gasoline pump prices fell -1.6¢ for the week, and continues well below year ago levels, by -38.8¢, or -10.8%. Days supply fell to 23.6. For perspective... last year was 26.1 days. 

Inventories fell across the board , with crude down -2.2M barrels; Distillates down -3.5M barrels; Gasoline stocks fell -2.1M barrels. Total Petroleum + products +SPR slid -6.1M barrels, with the SPR rising +952K barrels.

The total products is still +18.5M 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 rose from last week's $16.52, to $17.29. Gasoline rose to $8.75 from last week's $8.42. Distillates to $8.54, compared to last week's $8.10.

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. This past week, did indicate both slight up and down movement in prices. -4.8¢ ~ +2.8¢. Take your pick. 

Nothing dramatic in the way of prices surging, or at least for now. 

This Week in Petroleum Summary October 9th, 2024 per EIA.GOV

This week's full report. 

Gasoline pump prices rose +0.9¢ for the week, and continues well below year ago levels, by -49.9¢, or -13.5%. Days supply fell to 23.8. For perspective... last year was 26.8 days. 

Inventories were mixed , with crude increasing +5.8M barrels; Distillates down -3.1M barrels; Gasoline stocks fell -6.2M barrels. Total Petroleum + products +SPR slid -7.7M barrels, with the SPR rising +680K barrels.

The total products is still +12.6M 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 rose from last week's $15.70, to $16.52. Gasoline steady to $8.42 from last week's $8.42. Distillates to $8.10, compared to last week's $7.83.

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. This past week, did indicate both slight up and down movement in prices. -3.2¢ ~ +3.0¢. Take your pick. 

This coming week... only time will tell.