Monday came to a settle with a decline in both commodities and crude. Diesel settled down $.0285 at $1.4259/gal and gasoline was down $.0157 at $1.2879/gal respectively. This morning’s market continued yesterday’s trend of lower prices, with diesel and gas both slightly down $.0050 as of 11:30 AM ET. In a Reuters poll on U.S. oil inventories this week, there is an anticipation on crude stocks to have grown by three million barrels as refinery input remains relatively low and while crude imports high. They are also expecting distillates and gasoline inventories to draw by 2 million barrels and 1.6 million barrels respectively. To recap…build on crude, draw on products.
As we have experienced lower prices for quite some time now, I thought it would be interesting to compare retail prices now vs. last year at this time.
Current avg. vs. last year
Gasoline $2.2280 -$0.8280
Diesel $2.4980 -$1.1370
BP Q3 results beat analyst expectations with $1.82B profit-adjusted for one off charges and inventory changes
Duke Energy to acquire Piedmont Natural Gas for $4.9 Billion
Natural Gas drops below $2.00 for the first time since 2012