- Retail regular gasoline prices fell by 0.8c in the last four weeks to $3.595/Gal. About 49% 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 0.5 MMBbl/d for the week ending June 16 and are about 7% below the five-year average for this time of year
- Record Summer Travel Not Enough to Boost US Gasoline Demand, Says AAA
- Over 43 million Americans are forecasted to travel during the July 4th weekend, a new record, but this won't raise US gasoline demand to pre-pandemic levels, according to AAA
- Despite lower gasoline prices and pent-up demand, fuel efficiency improvements have subdued overall fuel demand, added the agency
- This trend was evident during the Memorial Day weekend where, despite a 6% increase in travelers, gasoline consumption fell by 1.5% compared to the previous year, said Gasbuddy’s Patrick De Haan
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- Retail diesel prices fell by 17c in the last four weeks to $3.794/Gal. About 45% 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 0.4 MMBbl/d for the week ending June 16 and are about 14% below the five-year average for this time of year
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