Gas Price Movement- March 14, 2019

Brent Oil

Brent oil prices increased by 1.28% or US$0.85, as prices increased this week relative to the prior week. Oil traded on March 14, 2019 at a price of US$67.15 per barrel relative to US$66.30 on March 7th, 2019. Brent oil began the year at US$54.91 per barrel.

Petrojam prices

87 Octane prices decreased this week by 1.15% (JMD$1.46). Additionally, 90 Octane decreased by 1.12% or (JMD$1.46) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$128.53 and $131.37 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 increase

On February 21, 2019, it was noted that, “the U.S. average regular gasoline retail price rose nearly 5 cents from the previous week to $2.47 per gallon on March 11, down nearly 9 cents from the same time last year. The Midwest price increased over 7 cents to $2.40 per gallon, the East Coast price increased nearly 5 cents to $2.43 per gallon, the Rocky Mountain price increased over 4 cents to $2.25 per gallon, the Gulf Coast price increased nearly 4 cents to $2.22 per gallon, and the West Coast price increased over 3 cents to $2.98 per gallon.”

“The U.S. average diesel fuel price rose less than 1 cent from the previous week, remaining at $3.08 per gallon on March 11, over 10 cents higher than a year ago. The Gulf Coast price increased by over 1 cent to $2.88 per gallon, the East Coast price increased less than 1 cent, remaining at $3.12 per gallon, and the West Coast price increased less than 1 cent to $3.51 per gallon. The Midwest price fell less than 1 cent, remaining at $3.01 per gallon. The Rocky Mountain price remained unchanged at $2.94 per gallon.”

 

Inventories for Propane/propylene decline

There was a decrease in U.S. propane/propylene stocks last week by 1.2 million barrels to 50.2 million barrels as of March 8, 2019 this was 50.2 million barrels (11.3%) higher than the five-year (2014-2018) average inventory level year over year. Additionally, Midwest, East Coast, and Rocky Mountain/West Coast inventories decreased by 1.3 million barrels, 0.8 million barrels, and 0.3 million barrels respectively. Gulf Coast inventories increased by 1.2 million barrels. Propylene non-fuel-use inventories represented 12.7% 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.

2019-03-14T20:54:44+00:00