March Market Update Summary • Refinery Closures• Impact of Tariffs• Heating Degree Days• The Transition to Summer Grade Gasoline  Domestic Refining Capacity and Demand  This year, two United States refineries are scheduled to cease operations. The Houston-based LyondellBasell refinery has already initiated its shutdown process, reducing the nation’s refining capacity by 264,000 barrels per day. Additionally, […]

 February Market Update Summary • Tariffs, Feedstock Alternative, and Canadian Crude • OPEC Update  • Presidential Priorities, Ethanol, and RVP  Tariffs, Substitution, and Canadian Crude The new presidential administration is shaking up the normal routine for oil refiners in the Midwest, as President Trump plans to institute tariffs on Canadian crude coming into the nation. These tariffs […]

Market Update – 2024 Review Summary • 2024 Market Overview• Geopolitical risk• Refinery Operations• OPEC Production  2024 Market Overview In 2024, U.S. retail gasoline prices averaged about 20 cents less than in 2023.  The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil […]

December Market Update Summary • Regional Supply Dynamics • OPEC Production Decision  • Degree Days  • Refinery Operations  Market Indicators  The U.S. domestic diesel market saw a continued decline in retail prices, averaging $3.59 per gallon, while inventories slightly increased to 219.7 million barrels. Diesel demand remained relatively weak at around 3.74 million barrels per day, […]

November Market Update Summary • Winter Weather Outlook • All Eyes on OPEC  • Historical Distillate Demand  • United States Dollar vs. Commodity Prices  La Nina and Winter Weather  Move over, Frosty – winter weather has been unusually warm the last few years, and the question on many people’s minds is whether this year is going […]