Brent oil prices decreased by 2.82% or US$2.10, as prices fell this week. Oil traded on July 19, 2018 at a price of $72.32 per barrel relative to US$74.42 last week. Brent oil began the year at US$68.07 per barrel.
87 Octane prices decreased week over week, by 0.49% (JMD$0.67). Additionally, 90 Octane decreased by 0.48% or (JMD$0.67) 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$135.19 and J$138.03 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
“U.S. average regular gasoline retail price rose to 2.87 per gallon, almost 1 cent, up 59 cents from the similar time interval last year. Both Midwest and East Coast prices increased nearly two cents to $2.80 per gallon while Gulf Coast prices decreased to $2.60 per gallon. West Coast prices declined at about two cents to $3.38 per gallon, and Rocky Mountain prices decreased nearly one cent to $2.96 per gallon.”
“The U.S. average diesel fuel price fell by less than a cent, remaining unchanged at $3.24 per gallon on July 16, 2018. Gulf Coast prices and Rocky Mountain each remained unchanged at $3.00 per gallon and $3.37 per gallon, respectively. Midwest prices fell nearly one cent to $3.17 per gallon, East Coast prices declined slightly, remaining unchanged at $3.24 per gallon. In addition, West Coast fell almost one cent to $3.74 per gallon.”
Propane/propylene inventories rise
“U.S. propane/propylene stocks increased by 1.7 million barrels last week to 65.3 million barrels as of July 13, 2018, 7.1 million barrels (9.8%) lower than the five-year average inventory level for this same time of year. Midwest and East Coast inventories increased by 1.3 million barrels and 0.9 million barrels, respectively, while Gulf Coast inventories decreased by 0.5 million barrels and Rocky Mountain/West Coast inventories dipped slightly, remaining virtually unchanged. Propylene non-fuel-use inventories represented 3.9% of total propane/propylene inventories.”
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This Week in Petroleum
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