- Retail regular gasoline prices fell by 45.5c in the last four weeks to $3.091/Gal. About 55% of the change was due to the price of crude oil, while the remainder was the refinery margin
- Scroll down for a chart of the RBOB-WTI crack spread, a measure of refinery margin. It shows elevated cracks this year
- Total motor gasoline inventories rose by 2.5 MMBbl/d for the week ending December 16 and are about 2% below the five-year average for this time of year
- Gulf coast refineries begin procedures to restart (Reuters, BBG)
- Nearly a dozen facilities were knocked offline by Winter Storm Elliott late last week, and some outages may take two weeks to fully restore operations
- More than 1.8 MMBbl/d of the Texas Gulf Coast's refining capacity was shut down due to the freezing temperatures
- Pemex’s Deer Park refinery and Motiva Enterprises’ Port Arthur, the biggest refinery in the US, may stretch their restart until the first or second week of January, according to people familiar with the matter
- Retail gasoline prices increased this week on the Gulf Coast, but national prices were unaffected by the temporary outages
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- Retail diesel prices fell by 67.8c in the last four weeks to $4.537/Gal. About 39% of the change was due to the price of crude oil, while the remainder was the refinery margin
- Scroll down for a chart of the NY Harbor ULSD-WTI crack spread, a measure of refinery margin. It shows elevated cracks this year
- Distillate fuel inventories fell by 0.2 MMBbl/d for the week ending December 16 and are about 7% below the five-year average for this time of year
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