Flashback Fri...Tuesday? Retail Prices This Year Compared to Last.

By: Daniel Guttman / October 27, 2015

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

 

Keep in mind that API statistics will be released later in the day, and DOE statistics tomorrow. We should see downward pressure on prices, if expectations for increased inventories prove true.

Interesting news:

  • 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

    1026settle

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Daniel Guttman

Written by

Daniel Guttman

With a background in wholesale and commercial sales as well as pipeline scheduling, Daniel is currently the Manager, Business Development in the Card Access Fuels department. He is tasked to find new and innovative solutions to increase sales opportunities for the sales team while managing and evaluating internal department processes. He assists with day to day personnel management, customer data analysis, as well as the daily Pacific Pride inventory and pricing direction.


Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


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