Brian Milne, Energy Editor, Schneider Electric The U.S. average retail price for regular grade gasoline slipped to the second lowest weekly price in 2015 in closing out November, and is poised to dive below the $2 gallon psychological threshold for the end-year holiday season, as growing inventory weighs on values. At $2.059 gallon on Nov.…
U.S. Gasoline Demand Trends Higher in October
Greater driving demand has been spurred by declining retail gas prices. By Brian Milne, energy editor, Schneider Electric Sliding retail gasoline prices continue to bolster gasoline consumption in the United States, with preliminary data showing gasoline supplied to market in late October at a two-month high near 9.35 million barrels per day (bpd). Moreover, if…
How U.S. Gasoline Futures Are Driving Towards A 2015 Low
A more confident consumer is driving greater gasoline demand. By Brian Milne, editor, Schneider Electric The seasonal attributes of the gasoline market in the U.S. are on clear display, with gasoline demand sliding since summer’s end, and gasoline inventory restocked to a pre-peak season level, while gasoline futures dropped 34% in value from the start…
How Gasoline’s Seasonal Change and Market Volatility Are Impacting Price
By Brian Milne, Editor, Schneider Electric Summers always seem to race by, but the fast-paced action in the commodity and equity markets in ending August was akin to speeding through Dead Man’s Curve before reaching the testing grounds at the Bonneville Salt Flats—fast, furious and uncertain. U.S. and international crude futures dropped to six-and-a-half year lows before…
How Low Gasoline Prices Spur Driving Demand
By Brian Milne, Editor, Schneider Electric A near vertical arc forms on the 10-year chart of vehicle miles traveled on U.S. roads recently released by the Federal Reserve Bank of St. Louis through its FRED economic data series, with U.S. vehicle miles traveled (VMT) in May at an all-time high of 3.08 trillion miles. That’s…
Low Gasoline Prices Spur Travel
Gasoline consumption rates are climbing, but what does that mean for retail prices? By Brian Milne, Editor, Schneider Electric Now that we’re in the peak driving season in the United States, early year prognostications for sharp growth in gasoline demand are under review, and preliminary data does show greater gasoline consumption as lower fuel prices…
Is Late May Surge in U.S. Gasoline Demand Sustainable?
Gas demand expected to trend higher this year. By Brian Milne, Energy Editor Schneider Electric Preliminary crude oil and gasoline data from the U.S. federal government detailed some big numbers for late May, including a spike in implied gasoline demand to the highest weekly rate in nearly eight years, while refiners and blenders produced more…
U.S. Auto Sales and Gasoline Demand
By Brian Milne, Energy Editor, Schneider Electric April marked another month of gangbuster light-vehicle auto sales in the United States, with dealers moving out an annualized seasonally adjusted 16.4 million units according to WardsAuto, the most for an April since 2005. Analysts credit low gasoline prices and borrowing costs for robust auto sales, which were…
Oil Prices and U.S. Gasoline Demand Growth
By Brian Milne, Energy Editor at Schneider Electric West Texas Intermediate crude oil futures have again nosed above $50 bbl early in the second quarter, trading at a roughly $6 bbl discount to global oil prices, with renewed discussion in the market again that oil prices have found their bottom after a better-than eight-month nosedive,…
Is RBOB Near Its Pre-Season Rally High?
By Brian Milne, Energy Editor, Schneider Electric Seasonal factors are the primary driver in lifting the gasoline futures contract on the New York Mercantile Exchange more than 60% from a multiyear low registered in January, and are the wind in the sails for a continued move higher in March. The forward curve, which shows the…