- Retail regular gasoline prices rose by 15.9c in the last four weeks to $3.444/Gal. About 58% 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 2.6 MMBbl/d for the week ending January 27 and are about 7% below the five-year average for this time of year
- US Retail gasoline prices snap a five-week rally
- The national average gasoline price fell 4.5c/Gal from a week ago to $3.444
- February typically has some of the lowest gasoline prices of the year due to seasonally low demand
- "For gasoline, high levels of coming maintenance and the eventual transition to summer gasoline could lead today’s declines to reverse down the road. For now, motorists should enjoy the decline, but be wary as we’re likely to eventually see increases again down the road,” said Patrick DeHaan, head of petroleum analysis at GasBuddy
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- Retail diesel prices fell by 12.8c in the last four weeks to $4.539/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 rose by 2.3 MMBbl/d for the week ending January 27 and are about 17% below the five-year average for this time of year
- Total says French strikes are hampering fuel deliveries from refineries (Bloomberg)
- The company says that fuel deliveries from its refineries in Donges, Feyzin, and Normandy to the biofuels facility in Le Mede and a fuel depot in Dunkirk are being affected by the strikes
- Total added that fuel inventories at depots and service stations remain at a satisfactory level
- Additionally, Exxon's Fos refinery's wholesale supply has been halted. An estimated 56% of morning employees at Total's sites are participating in the strikes
- The disruptions come as sanctions on Russian crude products came into effect earlier this week
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