Brian L. Milne, Refined Fuels Editor, Telvent DTN A loss of gasoline demand in the heavily populated Northeast due to Hurricane Sandy pressed New York Mercantile Exchange RBOB futures to a 4-1/2 month low, with the contract, short for Reformulated Blendstock for Oxygenate Blending, used as a benchmark in setting spot gasoline prices. Although long…
Wholesale Gasoline Costs Slide as Supply Tightness Eases
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were lower in most metropolitan markets across the U.S. coming into the final full week of October, pressured by rebuilding gasoline supply as refinery processing ramps up after a series of unexpected outages had propelled gasoline costs sharply higher. The total domestic gasoline inventory…
Wholesale Gasoline Costs on the Decline
Brian L. Milne, Refined Fuels Editor, Telvent DTN It’s mid-October and wholesale gasoline costs are on a downtrend, with the decline delayed based on gasoline’s seasonal tendency to begin moving lower after Labor Day as holiday travel cuts vehicle miles traveled. Gasoline prices are also coming down from lofty heights not usually experienced this time…
Pain at the Pump Hits Californians
Brian L. Milne, Refined Fuels Editor, Telvent DTN The odd pairing of weak demand for gasoline while supply is tight has been a running theme in the U.S. for much of 2012, while unplanned refinery outages have had a more dramatic effect on certain regional markets, the latest in California. On the heels of a…
Retail Gasoline Prices to Again Advance
By Brian L. Milne, Refined Fuels Editor, Telvent DTN “Say it ain’t so Joe,” references a line in a movie from a young fan to “Shoeless” Joe Jackson on revelation eight members of the White Sox conspired to lose the 1919 World Series. Drivers in the U.S. might be singing a similar phrase about gasoline…
Wholesale Gasoline Costs Mixed in Late September
Wholesale gasoline costs moved mixed in very choppy trading during the third week of September, with the benchmark futures contract slumping to a six-week low at one point before rebounding on renewed optimism for the global economy amid central bank stimulus measures. A huge build in crude stocks reported by the Energy Information Administration for…
Fed’s Stimulus Jolt to Underpin Retail Gasoline Prices
By Brian L. Milne, Refined Fuels Editor, Telvent DTN After 10 weeks with an advance the U.S. retail gasoline price average should decline, which would make it the first decrease in the national average since June. During its staircase rise, the Energy Information Administration’s weekly average has surged 49.1cts or 14.6% to a $3.847 gallon…
Lukoil Stations Protest With $8 Gas
Station owners speak out against prices they say put them at a competitive disadvantage. More than 50 Lukoil gas stations in New Jersey and Pennsylvania doubled their gas prices on Wednesday, Sept. 12, to more than $8 a gallon. The one-day price hike was meant to capture attention as they protested what they called unfair…
U.S. Retail Gasoline Prices to Continue Higher after Labor Day
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Bucking the seasonal trend, the U.S. average for regular grade gasoline sold at retail outlets across the country will continue higher after the Labor Day holiday, increasing despite the end of the summer driving season when demand typically declines after peaking during the summer months. There…
Wholesale Gasoline Costs Mixed as some Refinery Units Return from Outages
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were mixed countrywide in moving into the second half of August, with some markets, notably the greater Chicago market in the upper Midwest, posting steeply lower values after a surge in those prices in late July early August. Wholesale costs in the broad…