Another week, another report. This Week in Petroleum from the EIA.gov.
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| Click to Enlarge*The Net- U.S. only is adjusted for 5,070,000 barrels deducted from the SPR. |
From last week, the crude inventory increased 2.6M barrels; distillates rose 170K; gasoline inventory slipped 1.5M barrels.
For the reporting period, WTI was $85.32, compared to year ago of $84.68. Up 64¢ or +0.08%.
Gasoline at the pump, however was $3.769 compared to last year's $3.383, a difference of +38.3¢ or +11.3% . Spot prices last year was $2.517, compared to this year's $2.916 a difference of 39.9¢ or +15.8%.
When it comes to highway diesel the current period's price is $5.316, compared to last year's $3.611. A whopping difference of $1.705 or +47.3%.
The problem with diesel fuel is inventory being low throughout much of the country, but is significantly lower in the Northeast and Central Atlantic...
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| Click to Enlarge- Distillate inventory |
Not seeing any relief until demand falls a bit further, which only makes more available for export.
