Gas Price Movement- December 13, 2018

Brent Oil

Brent oil prices decreased by 0.55% or US$0.33, as prices declined this week relative to the prior week. Oil traded on December 13, 2018 at a price of US$59.73 per barrel relative to US$60.26 last week. Brent oil began the year at US$66.57 per barrel.

Petrojam prices

87 Octane prices increased week over week, by 0.76% (JMD$0.94). Additionally, 90 Octane decreased by 0.74% or (JMD$0.74) 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$124.40 and J$127.24 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 decrease

On December 10, 2018, “The U.S. average regular gasoline retail price declined three cents from the previous week to $2.42 per gallon, down more than six cents per gallon from the corresponding period of last year. West Coast prices dropped seven cents to $3.17 per gallon, Rocky Mountain prices fell over six cents to $2.66 per gallon, Gulf Coast prices decreased almost five cents to $2.07 per gallon, and East Coast declined nearly four cents to $2.38 per gallon. While, Midwest prices climbed over one cent to $2.21 per gallon.”

“The U.S. average diesel fuel price dipped almost five cents to $3.16 per gallon on December 10, 2018, 25 cents higher than last year. Gulf Coast prices declined almost six cents to $2.93 per gallon, Rocky Mountain and Midwest prices each fell over five cents to $3.24 per gallon and $3.07 per gallon, respectively. West Coast prices decreased more than four cents to $3.65 per gallon, and East Coast prices went down nearly four cents to $3.19 per gallon.”

Inventories for Propane/propylene decline

There was a decline in U.S. propane/propylene stocks last week by 3.2 million barrels to 76.6 million barrels as of December 07, 2018 This was 4.7 million barrels (5.8%) lower than the five-year (2013-2017) average inventory level year over year.  Gulf Coast, Midwest, Rocky Mountain/West Coast, and East Coast inventories decreased by 1.6 million, 0.8 million, 0.5 million and 0.3 million barrels, respectively. Propylene non-fuel-use inventories reflected a 5.8% of total propane/propylene inventories.

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