- Retail regular gasoline prices rose by 0.017c in the last four weeks to $3.837/Gal. About 50% 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 0.8 MMBbl for the week ending September 15 and are about 3% below the five-year average for this time of year
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- Retail diesel prices rose by 22.2c in the last four weeks to $4.586/Gal. About 44% 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 2.9 MMBbl for the week ending September 15 and are about 14% below the five-year average for this time of year
- Russia lifts the export ban on low-quality diesel (Bloomberg)
- Russia amended its fuel export ban issued last week, lifting the temporary ban on bunker fuel, gas oils, and some middle distillates. However, the ban on most diesel and gasoline exports remains in place
- Russia, the largest seaborne diesel-type fuel exporter, has halted diesel and gasoline exports from Sept 21 with no clear end date to control surging domestic fuel prices
- Preceding the export ban, diesel exports in the first 20 days of September fell by 28% to about 65,700 tons, compared to an average of 91,800 tons in August, likely due to seasonal maintenance
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