After a volatile year for consumers at the pump, gasoline prices are now lower than they were at this time last year. According to AAA, the price per unleaded gallon was $3.329 last week, below the $3.343 per gallon price a year ago. The national average could drop to below $3 per gallon by Christmas, […]
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Reduced refining capacity combined with weather and geopolitical intrigue have eroded diesel stockpiles in the United States to noteworthy lows. Between the years of 2017 and 2021, the U.S. averaged 34 days of distillate supply, compared to just 25 days as of October 2022. Accordingly, while the price of gasoline has increased roughly 14% this […]
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A fire broke out at the BP/Cenovus Energy Plant in Toledo, Ohio yesterday and has halted operations completely. Tragically, two employees were killed in the Ohio refinery explosion which happened late in the afternoon. This refinery can produce over 3 million gallons of refined products per day and is presumably going to be shut down […]
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Crude and retail prices, despite the usual market fluctuations, have been on a steady decline over the last two months. Brent crude peaked in early March at over $125/barrel and exceeding $120/barrel again in June. WTI crude was much the same, surpassing $120/barrel in both March and June. Brent and WTI, year-to-date, have hit 28 […]
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The Energy Information Administration (EIA) just released that the U.S. national average diesel price at the pump is $5.623/gallon. Is there any relief in sight? Let’s digest some data and assess. The Department of Energy’s (DOE) petroleum report revealed last week that U.S. distillate inventories are at their lowest level in 30 years; 104.9 million […]
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