Gas Price Movement- April 11, 2019

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

 

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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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2019-04-11T21:43:17+00:00