Brent Oil
Brent oil prices increased by 4.13% or US$2.97, as prices increased this week relative to the prior week. Oil traded on April 25, 2019 at a price of US$74.94 per barrel relative to US$71.97 on April 18, 2019. Brent oil began the year at US$54.91 per barrel.
Petrojam prices
87 Octane prices increased this week by 1.10% (JMD$1.50). Additionally, 90 Octane increased by 1.08% or (JMD$1.50) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$138.03 and J$140.87 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 24, 2019, it was noted that, “The U.S. average regular gasoline retail price rose more than 1 cents from the previous week to $2.84 per gallon, over 4 cents from the same time last year. The Rocky Mountain price increased almost 12 cents to $2.76 per gallon, the West Coast price went up 5 cents to $3.63 per gallon, and the East Coast price rose nearly 2 cents to $2.73 per gallon. The Midwest price fell over 1 cent to $2.72 per gallon, and the Gulf Coast price declined slightly, remaining unchanged at $2.54 per gallon.”
“The U.S. average diesel fuel price went up almost 3 cents to $3.15 per gallon on April 22, 1 cent higher than a year ago. The Rocky Mountain price increased 6 cents to $3.14 per gallon, the West Coast price went up nearly 5 cents to $3.70 per gallon, the Midwest price increased more than 3 cents to $3.04 per gallon, and the East Coast and Gulf Coast prices rose 2 cents to $3.17 per gallon and $2.92 per gallon, respectively.”
Inventories for Propane/propylene increase
There was an increase in U.S. propane/propylene stocks last week by 1.0 million barrels to 57.8 million barrels as of April 19, 2019. This was 10.6 million barrels (22.5%) higher than the five-year (2014-2018) average inventory level year over year. Additionally, Midwest inventories increased by 0.6 million barrels, while East Coast and Gulf Coast inventories each increased by 0.3 million barrels. Rocky Mountain/West Coast inventories declined by 0.2 million barrels. Propylene non-fuel-use inventories represented 10.4% of total propane/propylene inventories.
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