Gas Price Movement- August 08, 2019

Date: August 08, 2019

Brent Oil

Brent oil prices decreased by 5.16% or US$3.12, as prices decreased this week relative to the prior week. Oil traded on August 08, 2019 at a price of US$57.38 per barrel relative to US$60.50 on August 01, 2019. Brent oil began the year at US$54.91 per barrel.

Petrojam prices

87 Octane prices decreased this week by 2.27% (JMD$3.00). Additionally, 90 Octane decreased by 2.22% or (JMD$3.00) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$129.25 and J$132.09 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 decrease

On August 05, 2019, it was noted that, “The U.S. average regular gasoline retail price fell 3 cents from the previous week to $2.69 per gallon, almost 16 cents lower the same time last year. The Gulf Coast price dropped almost 4 cents to $2.39 per gallon, the East Coast price declined 3 cents to $2.60 per gallon, the Midwest price fell nearly 3 cents to $2.63 per gallon and the West Coast price decreased over 1 cent to $3.29 per gallon. In addition, the Rocky Mountain price fell almost 1 cent to $2.70 per gallon.”

“The U.S. average diesel fuel price went down 1 cent remaining at $3.03 per gallon on August 05, 19 cents lower than the same time last year. The Gulf Coast price dropped almost 1 cent, remaining at $2.79 per gallon, and the West Coast. East Coast and Rocky Mountain prices declined lower than 1 cent, remaining at $3.61 per gallon, $3.06 per gallon and $2.97 per gallon, respectively. The Midwest price went up less than 1 cent, remaining at $2.94 per gallon.”

Inventories for Propane/propylene decline

There was an increase in U.S. propane/propylene stocks last week by 2.9 million barrels to 83.3 million barrels as of August 02, 2019. This was 6.8 million barrels (8.8%) higher than the five-year (2014-2018) average inventory level year over year. Additionally, Gulf Coast, Midwest and East Coast inventories increased by 2.0 million barrels, 0.5 million barrels and 0.4 million barrels, respectively. While, Rocky Mountain/West Coast inventories went up slightly, remaining unchanged. Propylene non-fuel-use inventories represented 4.9% of total propane/propylene inventories.

For additional information click the link below:

This Week in Petroleum

 

 

Disclaimer: Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

 

2019-08-12T17:16:52+00:00