Gas Price Movement – August 23, 2018

Brent Oil

Brent oil prices increased by 4.94% or US$3.50, as prices rose this week. Oil traded on August 23, 2018 at a price of US$74.36 per barrel relative to US$70.86 last week. Brent oil began the year at US$68.07 per barrel.

Petrojam prices

87 Octane prices decreased week over week, by 0.08% (JMD$0.11). Additionally, 90 Octane decreased by 0.08% or (JMD$0.11) week over week. 87 Octane and 90 Octane opened the year at J$121.04 and J$123.88 respectively and now trades at J$136.75 and J$139.59 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

A reduction in U.S. Average regular gasoline and diesel prices

On August 20, 2018, “The U.S. average regular gasoline retail price decreased two cents from the previous week to $2.82 per gallon, up 46 cents from the same time last year. East Coast prices decreased nearly three cents to $2.78 per gallon. West Coast prices decreased over two cents to $3.31 per gallon and Midwest and Gulf Coast prices each fell nearly two cents to $2.73 per gallon and $2.57 per gallon. Rocky Mountain prices rose nearly two cents to $2.96 per gallon.”

“The U.S. average diesel fuel price decreased less than a cent to $3.21 per gallon on August 20, 2018, 61 cents higher than a year ago. East Coast prices fell over one cent to $3.21 per gallon, Midwest prices decreased by one cent to $3.13 per gallon, Rocky Mountain and Gulf Coast prices each fell nearly one cent to $3.35 per gallon and $2.98 per gallon, respectively. West Coast prices decreased less than a cent, remaining unchanged at $3.71 per gallon.”

Inventories for Propane/propylene increasing

There was a decrease in U.S. propane/propylene stocks last week by .9 million barrels to 68.8 million barrels as of August 17, 2018. This was 10.1 million barrels (12.8%) lower than the five-year average inventory level year over year. Gulf Coast and Rocky Mountain/West Coast inventories decreased by 1.7 million barrels and 0.1 million barrels, respectively. Midwest and East Coast inventories increased by 0.7 million barrels and 0.2 million barrels, respectively. Propylene non-fuel-use inventories represented 4.5% 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.