- Retail regular gasoline prices fell by 16.8c in the last four weeks to $3.342/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 fell by 1.9 MMBbl/d for the week ending February 17 and are about 5% below the five-year average for this time of year
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- Retail diesel prices fell by 39.5c in the last four weeks to $4.294/Gal. About 40% 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 2.7 MMBbl/d for the week ending February 17 and are about 12% below the five-year average for this time of year
- US Retail diesel prices post a fourth-consecutive weekly loss
- The national average diesel price fell 8.2c/Gal from a week ago to $4.294
- According to EIA data, prices haven't been this low since February 28, 2022, when the national average was $4.104
- A relatively warm U.S. winter, along with declining prices, helped push the U.S. distillate inventories to 121.9 MMBbl, the highest level in a year
- However, refiners have a full schedule of planned turnarounds at their facilities this spring, which might tighten inventories again in the coming months
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