TAGS: Marketing, Overseas
December 18, 2014
U.S. Energy Information Administration (EIA) released data today relating to Fuel prices for the week ended September 28, 2012. Gasoline and highway diesel both down for the second week in a row led by declines in Gulf Coast gasoline; propane stocks continue to build.
Gasoline-
Average retail price for regular gasoline was down two cents last week to $3.80/gallon, 37 cents per gallon higher than the same period last year. Gulf Coast led declines week-over-week, lower five cents to $3.56/gallon; East Coast gasoline three cents lower to $3.80; Midwest gasoline - lower three cents to $3.78/gallon. Rocky Mountain region down less than a penny to $3.77.
West Coast region showed the only upward movement - average prices rose two cents to $4.08/gallon.
Highway Diesel-
National average diesel prices were lower a penny last week to $4.08/gallon, thirty three cents over the same time last year. The West Coast region down two cents to $4.30; Rocky Mountain region also two cents lower to $4.21; East Coast regional fell a penny to $4.08/gallon. Midwest diesel less than a penny lower on the week to $4.01/gallon.
Gulf Coast diesel showed the only increase, up less than a penny to $4.00/gallon.
Propane-
Inventory levels received a boost last week increasing by 1.3 million barrels to 75.6 million barrels - 18.1 million barrels (32%) higher year-over-year. The biggest addition came in the Gulf Coast region adding 0.9 million barrels. Midwest regional supply up 0.4 million barrels; Rocky Mountain/West Coast regional supply both up 0.2 million barrels.
East Coast inventory fell by 0.1 million barrels, the only decline week-over-week.
Propylene non fuel-use inventories represented 6.0% of total propane stores.
As of Now...
November natural gas (NGX12.NYM) choppy - opening today, October 4, 2012, at $3.39 finding resistance at $3.45 -- currently (9:30 CT) at $3.43. Prices should continue to soften on news of strong supply in storage.
November crude oil (CLX12.NYM) also very choppy today, trending higher, currently (9:30 CT) at $88.94 -- Nov crude opened today at $88.01. After spending the last five days flirting with $93.00, crude fell sharply yesterday to $87.91, today making its way slowly back upward. I do not expect crude to to push higher than $93.00 this week.