Gas Price Movement- April 25, 2019

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


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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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