Brent Oil
Brent oil prices increased by 2.10% or US$1.46, as prices increased this week relative to the prior week. Oil traded on April 11, 2019 at a price of US$70.86 per barrel relative to US$69.40 on April 04, 2019. Brent oil began the year at US$54.91 per barrel.
Petrojam prices
87 Octane prices increased this week by 1.74% (JMD$2.28). Additionally, 90 Octane increased by 1.70% or (JMD$2.28) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively nd now trades at J$133.46 and J$136.30 per litre respectively.
Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History
This Week in Petroleum
U.S. average regular gasoline and diesel prices increase
On April 08, 2019, it was noted that, “The U.S. average regular gasoline retail price rose more than 5 cents from the previous week to $2.75 per gallon, over 5 cents from the same time last year. West Coast prices increased nearly 15 cents to $3.42 per gallon, the Rocky Mountain climbed 7 cents to $2.54 per gallon, the East Coast price went up above 3 cents to $2.65 per gallon, and the Gulf Coast price increase below 1 cent, remaining at $2.45 per gallon.”
“The U.S. average diesel fuel price went up more than 1 cent to $3.09 per gallon on April 08, 5 cents higher than a year ago. The West Coast price increased 5 cents to $3.59 per gallon, the Rocky Mountain price increased over 2 cents to $3.03 per gallon, the East Coast price increased 1 cent to $3.14 per gallon, and the Midwest and Gulf Coast price increased nearly 1 cent to $2.99 and $2.88 per gallon, respectively.”
Inventories for Propane/propylene increase
There was an increase in U.S. propane/propylene stocks last week by 1.2 million barrels to 54.4 million barrels as of April 05, 2019. This was 9.0 million barrels (19.9%) higher than the five-year (2014-2018) average inventory level year over year. Additionally, Gulf Coast inventories increased by 0.8 million barrels, and Midwest and East Coast inventories each increased by 0.2 million barrels. Rocky Mountain/West Coast inventories declined slightly, remaining unchanged. Propylene non-fuel-use inventories represented 11.5% of total propane/propylene inventories.
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