By Brian L. Milne, Energy Editor, Schneider Electric Spot prices for gasoline in the Chicago market spiked to better than 4-1/2 year highs in starting the first week of June before dropping back on data points showing increased processing at Midwest refineries, while wholesale gasoline costs at major metropolitan markets across the U.S. were mostly…
Gasoline in Midwest Spikes on Supply Concern
By Brian L. Milne, Energy Editor, Schneider Electric The final and holiday-shortened trade week in May brought about a great amount of volatility in US oil markets, which whipsawed in futures and spot trading on a multitude of concerns ranging from assessments of U.S. and global economies, Federal Reserve stimulus efforts, geopolitical tension in Africa…
Wholesale Gasoline Prices Drop on Building Supply
Brian L. Milne, Energy Editor, Schneider Electric A mid-May price spike in Midwest gasoline cash differentials spurred by a trio of fluid catalytic cracking (FCC) unit outages at refineries located in the region atop of refinery upgrades that have limited the production of oil products in the Midwest continues to abate, pressuring supplier “rack” postings…
U.S. Gasoline Prices Pause Ascent—Renewed Advance Awaits
By Brian L. Milne, Energy Editor, Schneider Electric For the first time since the middle of December, the U.S. average price for regular grade gasoline moved lower according to the Energy Information Administration’s (EIA) weekly survey, pressured by worries over economic growth and the effect on fuel demand, along with lower asking prices by suppliers…
Futures Surge Push up Wholesale Gasoline Costs
By Brian L. Milne, Energy Editor, Schneider Electric In futures trading, the nearest delivered New York Mercantile Exchange RBOB (reformulated blendstock for oxygenate blending) contract surged 17.82 cents or 6.2% from Jan. 25 to Feb. 1, with supplier postings at terminals serving major metropolitan markets up sharply, reflecting some of that increase from paper trading.…
Lower Gasoline Prices Eyed for 2013
By Brian L. Milne, Energy Editor, Schneider Electric U.S. retail gasoline prices fell to an 11-month low in early December as building inventories and weak demand again pressured wholesale costs, with the Energy Information Administration’s (EIA) weekly retail average for regular grade gasoline down in eight of the last nine weeks to $3.349 gallon. View…
Missouri Proposes Rule to Warn Customers About Gas Price Increase
State lawmakers in Missouri are kicking around a proposal that requires convenience stores and gas stations to tell customers before the enact fuel price changes. This proposal is from a republican state rep from southwest Missouri, Ray Weter, according to St. Louis (Mo.) Today. The proposal would require fuel distributors to tell the stations in…
Retail Gasoline Prices Likely to Bounce Higher on Halloween
As expected, the Energy Information Administration’s US retail gasoline price average fell during the week-ended Oct. 24 following an increase during the previous week, and has now moved lower in seven of the past eight weeks. For the final week of October, we’re likely to see an increase in the average although wholesale gasoline prices…
Steep Losses in Wholesale Gasoline Costs Trimmed
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs mostly moved higher through the week-ended Monday (8/15) in major metropolitan markets across the U.S., paring steep declines incurred earlier in August amid heavy selling that had gripped markets of all stripes, and reached the panic level at some points. Macroeconomic signals continue to…
Is $4 Gallon Gasoline Coming to a Station Near You?
By Brian L. Milne, Refined Fuels Editor, Telvent DTN For some, the unpleasant reality of $4 gallon gasoline has already occurred, namely in California, where the Energy Information Administration reported in early April an average price for regular grade gasoline at $4.057 gallon. As of April 4, the EIA pegged the average for Chicago at…