Gas Price Movement August 3, 2017

Brent Oil

Brent oil prices increased by 2.73%, as prices increased for the fifth consecutive week. Oil traded on August 2, 2017 at a price of 52.36 (US$/ barrel).

Petrojam prices

87 Octane prices increased week over week, by 1.32% . Additionally 90 Octane  increased by 1.29% week over week. 87 Octane and 90 Octane opened the year at J$97.32 and J$98.98 respectively.

Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History

This Week in Petroleum

Seasonality of U.S. distillate consumption and stock levels is declining

Changes in demand trends, trade patterns, and fuel specifications have significantly reduced the role of traditional seasonal factors in driving U.S. distillate markets. Historically, distillate use in the United States was highly seasonal because of its use as a home heating fuel. In recent years, use of distillate as a heating fuel has decreased significantly, while its use as a transport fuel has remained relatively flat . Distillate stocks, which were traditionally drawn down during winter in recent years, have shown little change or even have built over the October-March winter heating season However exports of distillate fuels, a growing portion of the overall disposition of U.S. distillate production, have actually become more seasonal in recent years, but because the net export peak occurs in the summer months, this change serves to offset the winter peak in domestic heating demand.

https://www.eia.gov/petroleum/weekly/

 

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2017-08-24T19:05:41+00:00